The AUD/USD kind of has that wanting to fall of a cliff look on the hourly chart. Given that we seem to have run out of steam for now with the daily technical studies all having turned down from overbought levels i think we will target the 0.6650 level as the first major support after 0.6840 gives way.
I am happy selling on the break below 0.6840 with a view to covering shorts ahead of 0.6650. The 100 DMA currently comes in around the 0.6650 level so this could see some technical buying interest develop ahead of this level.
