AUD/USD Encountered Support at 0.7530

In the last three days of the past week AUD/USD moved steadily to the downside but that move might stall or even end since the pair encountered a pretty serious support level at 0.7530. What is more, AUD/USD also formed a pair of doji candlesticks above that support level on the four-hour time-frame. If that signal is valid then we can likely expect a move to the upside towards the first resistance level at 0.7580, which coincides with the (MA)89 indicator on the daily time-frame. That said, the pair still appears quite bearish and if it does break below the aforementioned support at 0.7530 it will likely continue dropping towards the next support level at 0.7470.