The AUD/USD pair has been moving downwards since the 4th of December 2015, with the bears leading the price from as high as 0.7384 to as low as 0.7186.
Today, during the US session the pair has been rising higher, currently trading at 0.7215. In the event that the price is going to attempt to reach new highs and the price breaks above 0.7262, the pair could rise up to 0.7285 and 0.7308 respectively.
On the other hand, in the scenario where the currency pair encounters enough resistance and breaks below the price of 0.7186, the price could fall down to 0.7170.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.