The AUD/USD pair has been moving upwards since Friday, the 18th of March 2016, with the bears driving the price from as high as 0.7681 to as low as 0.7577.
During the course of the session today, the pair advanced from as low as 0.7571 to as high as 0.7626, to fall back again down to 0.7577. In the scenario, where the price breaks above the level of 0.0.7616, the price could escalate up to 0.7628 and 0.7641 in extension.
In the opposite scenario, where the sellers keep pushing lower and the price breaks below 0.7547, the price could decelerate down to 0.7516 and 0.7476 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.