As long as the resistance of 0.7265 is not broken, it is a downtrend!

A break of the 0.666 price floor indicates that the correction pattern starting from 0.8006 has been revived. The short-term trend of the Australian dollar against the US dollar is down to the level of Fibonacci 0.6756.

From the buyers’ point of view, if the AUDUSD pair crosses above the partial resistance of 0.7027, the short-term AUDUSD trend will be neutralized. But as long as the resistance is 0.7265, the AUDUSD trend will be down.

* Technical H4 analysis of AUDUSD

* Technical daily analysis of AUDUSD