AUD/USD broke below 0.7732 support, indicating that the downtrend from 0.8124 has resumed. Further decline could be expected in the coming days and next target would be at the resistance-turned-support trend line on the weekly chart now at around 0.7690.
Near term resistance is at the falling trend line on the 4- hour chart, only a clear break above the trend line resistance could signal completion of the downtrend from 0.7897.
Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.
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