The Australian dollar is starting to fall against the US dollar as the pair looks to be continuing its multi-week downside correction. A head and shoulders pattern is warning that the AUDUSD pair could be about to drop towards the 0.7280 support area. Buyers beware as a break under the 0.7465 level should significantly increase pressure towards the AUDUSD pair.
The AUDUSD pair is only bullish while trading above the 0.7500 level, key resistance is found at the 0.7540 and 0.7600 levels.
The AUDUSD pair is only bearish while trading below the 0.7500 level, key support is found at the 0.7400 and 0.7280 levels.
