AUDUSD SETUP

AUD/USD’s fall from 0.7477 extended lower to 0.7169 last week but has recovered since then. Presently, the bias remains neutral and it's better to be patient to see how the movement of the pair unfolds this week. On the downside, a break below 0.7169 will result in testing the 0.7105 low. Firm break of that low will resume decline towards 0.6991 support next. On the upside, a break above minor resistance 0.7315 will turn bias back to the upside for 0.7477 resistance instead.