AUD/USD continues to drop after hitting strong resistance at $0.64. This resistance was determined by the ascending broadening wedge pattern, where the price came under pressure after reaching the target. Moreover, the decline was also supported by the rebound in the US Dollar last week, driven by economic uncertainties in the US.
The pair is heading downward but trades near a long-term support region. If the pair fails to break below $0.61, the possibility of another rebound higher will develop.
