The Australian dollar is on the slide against the US dollar, following today’s dovish Reserve Bank of Australia monetary policy decision. The technical picture for the AUDUSD is still bullish over the short-term horizon while bulls defend the 0.7690 support level. AUDUSD bulls may be looking to buy into the recent price dip as a bullish inverted head and shoulders pattern continue to unfold.
The AUDUSD pair is only bullish while trading above the 0.7690 level, key resistance is found at the 0.7770 and 0.7815 levels.
The AUDUSD pair is only bearish while trading below the 0.7690 level, key support is found at the 0.7650 and 0.7620 levels.
