AUD/USD has been trading within range (0.742-0.764) all July. Some fierce resistance was at 0755, 0.761 and 0.764 levels. Meanwhile, 0.742 was July's major support with 0.749 acting as a front line support that kept bears from taking over.
Friday trading saw the pair failing its last attempt to break the 0.749 levels before it spiked towards 0.76104 (23rd June...
After retesting the descending May trendline on Friday, the pair closed near the 0.618 levels (0.78351-0.68270) standing at 0.72121, leaving some room for speculations over the next two weeks.
Possible scenarios:
1- A continuation of the bearish May movement with 0.7110 as first target with a possible break leading to further decline towards the Grand...
