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Key Support: 0.7540
This week the AUDUSD broke with a massive level of support on the daily/weekly and now has retraced back to retest it whilst the USD is rallying hard (+2.33% – 3 week move)
Let´s look at the 2H chart now for the setup.
Price broke with the 0.7640 level whilst trading in a very structured bearish move. This level confluences with the weekly pivot (also rejected) and the 0.382 retracement of the 0.7850-0.7530 move (-4.05%). It also confluences with the 76.4% retracement of the last leg down.
Everything points at a further decline in the Aussie.
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