AUDUSD Institutional Technical Outlook

Good evening traders. We are seeing this downtrend on AUDUSD continue with another lower high today forming at .728. We have yet to see a major higher low form so price is still telling us that sellers are in control. As long as we remain below today's high at .728 we can expect continued downside. Only a sustained break above the latter will signal higher pricing.

If price can break below the previous swing low this will signal a deeper pullback to the next key support below at .7145.

Enjoy!