AUDUSD H1: Bullish outlook seen, further upside above 0.6330

On the H1 time frame, prices are facing bullish pressure from the support zone at 0.6330, in line with the 78.6% Fibonacci level. A throwback to this area presents an opportunity to play the bounce to the next resistance zone at 0.6400, which coincides with the descending trend line and 50% Fibonacci retracement. Stochastic is testing the support level at 7.46 as well where we could see more upside above this level, supporting the bullish bias.