AUD/USD continued falling after the release of the negative macroeconomic data this morning and finally broke through the lower limit of consolidation/support level 0.7744. It is worth noting that the movement was sharp and on a fairly large, as for the Asian session, the volume. Considering this breakdown move we should give preference to short positions. Sales should be opened after a small and smooth correction of the price upwards to get a more profitable entry point and, as a consequence, a better risk/profit ratio. A stop loss should be placed for the level of 0.7785. The fall potential is about 100 points.
The bottom line: short positions are in priority.
The bottom line: short positions are in priority.