Following the release of the meeting minutes of the Australian Monetary Policy Council and with the increasing divergence between Australian and US monetary policies, demand for the Australian dollar fell against the US dollar.
The price crossed the major support level, falling to 0.7412 and is expected to continue with a bearish trend mid-term.
In the short term, there is a possibility of a correction, and for the pull-back to break the support level.
Support levels: 0.7328, 0.7160
Resistance levels: 0.7412, 0.7676
