The AUD/USD is starting downside movement from the distribution point 1.073.
A strong resistance is located at the 1.076 level; at the moment there is a correction to the support at 1.049 where the upside movement can resume to the resistance at 1.076. In case it is broken the pair will be targeted at 1.079-1.088.
In case the 1.049 resistance is broken the pair will head to 1.040.
Major trend: Upside.
Support levels: 1.049, 1.040
Resistance levels: 1.076, 1.079, 1.088