AUDUSD has bounced back up to test the top of its current range, now at .7498/.7506. This has capped again and we look for an attempt to retrace back lower from here.
Support moves to .7413/09, with a break down through .7370/63 needed to again expose the 50% retracement of the January/April rally and the November low at .7331/10. We would expect buying here again. Beneath is needed to open up a deeper sell-off to .7285, then .7212/01.
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Above .7506 can see the current backup extend to test the 200-day average and the October pivot low at .7529/58, which we would expect to provide a ceiling.
Strategy: Short at .7470, stop above .7500, for .7350.
