Will the AUDUSD cross the 0.7164 support?

The short-term trend of the Australian dollar against the US dollar is declining. A break of support at 0.7164 marks the end of the correctional movement starting from 0.696 at the rate of 0.7660.

It can also be said that the long-term bearish rally started at 0.8006 and the pair could fall to the low of 0.696.

From the buyers’ point of view, the short-term AUDUSD trend will be neutralized by the break of the resistance of 0.7250.

* Technical H4 analysis of AUDUSD

* Technical daily analysis of AUDUSD