FX:AUDUSD   Australian Dollar / U.S. Dollar
AUD/USD on the daily chart was in a downwards trend. Looks to be in a correction at the moment with the current up swing testing previous support which would now be resistance for an upwards movement. Price should revert back to making lows however be wary that it is near another level of resistance. A break through of this resistance would be conformation for a reversal. If the price fails to break resistance than a continuation of the downwards movement should resume and shorts can be placed.