AUDUSD currency pair under the bearish pressure after the earlier downward reversal from the key resistance level 0.73660 (which has been reversing the price from the start of March), intersecting with the resistance trendline of the daily up channel from January. The downward reversal from this resistance zone created the daily reversal pattern Bearish Engulfing.
Given the rising bullish Australian dollar sentiment seen today – AUDUSD currency pair can be expected to fall further toward the next support level 0.71550.
