The Australian Dollar put in a bearish Dark Cloud Cover candlestick pattern after testing falling trend line resistance, hinting it may be readying to resume its down trend. Last week’s brisk recovery was cut short in the wake of December’s US employment data. From here, a daily close below the 14.6% Fibonacci expansion at 0.7266 opens the door for a test of the 23.6% level at 0.7211. Resistance is in the 0.7357-96 area (January 5 high, 38.2% Fib retracement). A move back above that sees the next upside barrier at 0.7469, the 50% threshold. An order to enter short AUD/USD at 0.7327 has now been triggered. The trade ... (full story)