The Australian dollar currency has staged a much-needed range breakout against the US dollar, following the recent Capital Gains tax news from the United States. Lower time frames analysis shows that a bearish head and shoulders pattern has been activated, following the move below the 0.7680 level. The AUDUSD pair could be preparing to target the 0.7630 or 0.7600 level in the short-term.
The AUDUSD pair is only bullish while trading above the 0.7680 level, key resistance is found at the 0.7700 and 0.7730 levels.
The AUDUSD pair is only bearish while trading below the 0.7680 level, key support is found at the 0.7630 and 0.7600 levels.
