The AUD/USD pair has been moving downwards since the 17th of February 2016, with the bearish pressures registered from as high as 0.7186 to as low as 0.7069.
On Thursday, the pair moved sideways, ranging between the levels of 0.7181 and 0.7133. Today, the price fell significantly, reaching the daily lows of 0.7069. In the event that the sellers keep pushing lower and the price breaks below 0.7069, the pair could find support at 0.7060 and 0.7045 respectively.
On the flip side, in the scenario where the buyers manage to gain enough momentum to push the price above 0.7140, the pair could escalate up to 0.7171 and 0.7186 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.