AUD/USD moved sideways in a trading range between 0.7201 and 0.7277. As long as 0.7277 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 0.7337 and a breakdown below 0.7201 support could trigger further downside movement towards 0.7100. On the upside, a break of 0.7277 resistance would indicate that the fall from 0.7337 had completed at 0.7201 already, then the following upside movement could take the price into 0.7400 zone.
