The Aussie has been trading higher last week, towards 78.6% Fibonacci retracement level that turned into a resistance based on recent 150 pip sell-off shown on 4h chart. We see first evidences that market has accomplished a deep corrective rally since end of May. Also, it would be nice to see even more downside in the near-term, with impulsive price action through a channel support line that would put market in a very strong bearish mode, possibly for 0.7140.
AUDUSD, 4H
