General Analysis During this week the AUD/USD currency pair has traded in a narrow range and eventually came close to the support level at 0.7700. For a long period of time the Aussie has shown a significant increase and now for the first time in the last couple of months approached the significant level of resistance; it is very likely the price will go down from it. Comparing the Stochastic indicator chart with the price graph we can see a clear divergence which was formed last Friday. This trading signal on the daily chart in a rising market is quite a strong indicator to sell the US dollar which cannot be ignored.
The Next Few Days Considering the overall situation on the market for the US dollar, the price's proximity to a significant support level at 0.7700 and the presence of divergence in the graph we have all the signals for opening sell deals on the AUD/USD. The general trend is still increasing but today there is the most favorable situation to play on the rollback of the price. During this week we are likely to see a decrease to at least 0.7550 or even further to 0.7450.
