The AUD/USD pair has been trending upwards since the 9th of February 2016, with the bulls leading the price from as low as 0.6973 to as high as 0.7242.
On Thursday, the AUD/USD pair fell aggressively from 0.7153 down to 0.6983. In the event that the buyers attempt to move higher and break above 0.7107, the pair could reach 0.7127 and 0.7139 in extension.
Conversely, in the scenario where they sellers manage force the price successfully below 0.7069, the pair could decelerate down to 0.7050 and 0.7031 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.