The Australian dollar has formed a floor

The AUDUSD pair has formed a price floor at 0.7116 and the short-term trend of the Australian dollar against the US dollar is neutral. That is, the market is suffering. But as long as the 0.7342 resistance is not broken, we can expect another bearish move.

The long-term bearish rally has also been revived from 0.8007 and with the breakout of the 0.7116 price, the price will be ready to hit the 0.6666 floors again.

* Technical H4 analysis of AUDUSD

* Technical daily analysis of AUDUSD