AUDUSD bounces from a test of 2015 lows but quickly runs into trouble
If you've had the patience (and I know a few of you have) then playing the ranges in the aussie has made you good beans
The important level at 0.6910 has survived a test but the bounce is far from convincing so far
AUDUSD 15m chart
While the 0.6900 level remains intact, the topside is being contained at 0.6975, which was the support break point yesterday
Looking further out, we can get an idea of how strong this lower level is
AUDUSD daily chart
If the pair can't move itself away from this lower level then there's trouble on the cards and a break is likely, and it could be big. 0.6850 might be a sticky point on the way down but if there's any sizeable stops through 0.6900, that may not hold up on a first try
The aussie needs to make a decision one way or another. We've already broken to the downside of the 0.7100 - 0.7400 range and this is the wider barrier. Stay in and we can look up, break and we move to a new ballpark
