To finish last week, the bears made a strong statement as the AUD/USD was sold off and pushed back down below the key 1.03 level. It is presently trying to climb higher and keep in touch with the key 1.03 level as it trades around 1.0275. More evident on the four hourly chart is the descending triangle that was forming with the base at 1.03, which has now been broken as the AUD/USD has moved down through that level. The peaks can be found near 1.04 and more recently 1.0330 which were demonstrating the overwhelming selling pressure on the 1.03 level. It had previously done well to rely on the trusty support level at ... (full story)