The AUD/USD pair has been trending down since Wednesday, 9th of March 2016. The downward movement began from as high as 0.7527 to as high as 0.7435.
In the scenario that the bulls succeed in forcing the price to break above the level of 0.7481, the price could escalate up to 0.7505 and 0.7527 in extension.
Conversely, in the scenario where the sellers manage to continue their bearish pressures and break below the level of 0.7367, the price could decelerate down to 0.7319 and 0.7268 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.