The AUD/USD pair has been trending downwards since Monday, the 14th of March 2016, with the bears leading the price from as high as 0.7591 to as low as 0.7414.
On Wednsday, the pair range between the levels of 0.7414 and 0.7475. In the event that the buyers attempt to move higher and break above 0.7483, the pair could reach 0.7503 and 0.7525 in extension.
Conversely, in the scenario where they find the 0.7483 level to be too resistive, the price could be forced lower. If the price breaks successfully below 0.7384, the pair could decelerate down to 0.7335 down to 0.7256.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view