AUDUSD: What The Daily Chart For AUDUSD Tells US?

On the daily chart, we can see that the price is pointing to the downside but as usual, we don't have to anticipate a fast move down. On a lower time frame, the price has the potential to correct higher up to 0.7495 - 0.7525 before moving down again. So on a lower time frame, the price may move higher from 130 to 160 pips. Once the price will be there we may watch for a selling opportunity with targets:0.7306 and 0.7102.

Thank you and Good Luck!

Trade closed: target reached: