The AUD/USD pair has been moving upwards since the 29th of October 2015, with the bulls driving the price from as low as 0.7067 to as high as 0.7218.
During the course of the session today, the pair fell from 0.7218 down to 0.7151. Taking into consideration that there is significant support below that level, the buyers could attempt leading the price higher. In the scenario, where the price breaks above the level of 0.7181, the price could escalate up to 0.7208 and 0.7294 in extension.
In the opposite scenario, where the sellers keep pushing lower and the price breaks below 0.7142, the price could down to 0.7067.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.