AUD/USD has broken pivotal levels between 1.0415 and 1.0385 and resided below them, activating the downside effect over the intraday basis. We now expect bearish objectives reaching 1.0230. The pair finds solid support at 1.0360; it is required to break that level to bolster our bearish expectations, which stand intact, unless if the pair breaches and holds ground above 1.0415.
* Trading range expected this week is between the key support at 1.0150 and the key resistance 1.0560.
* Short-term trend is downside targeting 0.9400 if 1.0710 remains intact.