The AUD/USD pair has been trending downwards since the 23th of February 2016, with the bears leading the price from as high as 0.7258 to as low as 0.7145.
On Wednesday, the pair advanced up to 0.7213, but turn back around and fell down to 0.7156 during the Asian session. In the event that the buyers attempt to move higher and break above 0.7188, the pair could reach 0.7201 and 0.7215 in extension.
Conversely, in the scenario where they sellers manage force the price successfully below 0.7143, the pair could decelerate down to 0.7116 and 0.7082 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.