AUD/USD Is Falling

AUD/USD has been retracing to the upside ever since it found support at 0.7310 and that retracement is likely not over yet, but the pair has also found some resistance at 0.7485. The pair formed a clear spinning top candlestick at that level on the four-hour time-frame and bounced off from it. It is currently still moving to the downside and it will probably break out below 0.7460 to continue falling towards the closest target, which is at 0.7415 and coincides with the (MA)89 indicator on the four-hour time-frame. A breakout below that level could lead to a further move to the downside towards 0.7365.