I really don't think it's going lower, not until Wednesday at least.
AUDUSD Selling Frenzy Forces Prices Below 0.7646 Handle
The AUDUSD is under pressure today as sellers have come out in force, driving the pair back below the key 0.7646 handle on an intraday basis. This level is the June high and also assisted in capping the advance in mid-July. Buyers managed to overtake the level on August 9th but subsequently failed to push prices convincingly higher. As a result, the bulls have looked tepid all week, barely managing to keep the pair afloat. But that may be about to change. As is always the case when trading the daily time frame, a daily close is needed to confirm the break. Such patience is of particular importance on Fridays when ... (full story)