Technical analysis:
AUD/USD has been trading downwards. I see the potential for the downside movement in the next period and test of 0.7420.
Trading recommendation:
Due to the breakout of the 2 upside channel and momentum divergence in the background, I see potential for downside movement.
Watch for potential selling opportunities with the downside objectives at 0.7420 and 0.7370.
MACD is showing bearish divergence, which is another sign and confirmation for the downside rotation.
Resistance is set at 0.7540
