The AUD/USD pair has been trending downwards since Thursday, the 31st of March 2016, with the bears leading the price from as high as 0.7722 to as low as 0.7600.
During the trading session today, the pair price fell from 0.7700 down to 0.7645, to later advance up to 0.7691. At the time of writing the pair price is trading at 0.7630.
In the event that the buyers attempt to move higher and break above 0.7646, the pair could reach 0.7675 and 0.7693 in extension.
Conversely, in the scenario where they sellers manage force the price successfully below 0.7600, the pair could decelerate down to 0.7570 and 0.7534 respectively.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.