Price dropped today as the USD has taken the lead again on the short term. AUD/USD erased the yesterday’s gains, but failed to reach the 38.2% retracement level. I’ve said in the last reports that technically, is expected to climb towards the upper median line (uml) of the minor blue descending pitchfork. I’ve drawn a minor red ascending pitchfork hoping that I’ll catch an upside movement, price could come to retest the lower median line (lml). A valid breakout from the ascending pitchfork’s body will signal a further drop on the daily chart.
