The AUDUSD fell on Monday. The technical bias remains bearish due to lower highs in the recent downtrend.
The AUDUSD is currently trading near 0.76177, and multiple resistance levels can be seen above. These price levels may prevent prices from rising further.
- Resistance Level 1: 0.76600
- Resistance Level 2: 0.77000
- Resistance Level 3: 0.77570
Multiple support levels can be found below the price, which may help the price stay above that level.
- Support Level 1: 0.75880
- Support Level 2: 0.75300
- Support Level 3: 0.74610
In terms of data, we also need to pay attention to the March CPI data of USA Today. Higher data will be more favorable to the USD, so it is bearish on the AUDUSD currency pair, and vice versa.
Given the recent price trends and economic developments, it may be a good trading option to sell the AUDUSD currency pair near the current level.