The AUD/USD pair has been decelerating since the 12th of October 2015, with the bears driving the price from as high as 0.7379 to as low as 0.7199.
During the course of the session today, the pair gained traction moving from 0.7199 up to 0.7292. In the event that the buyers keep exerting higher pressures, the pair could rise up to 0.7309 and 0.7379 respectively.
In the opposite scenario, where they are unable to withhold their pressures and the pair is forced lower, the price could decelerate down to 0.7186 and 0.7064 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.