The Australian Dollar (AUD) inched lower against the US Dollar (USD) on Monday, decreasing the price of AUDUSD to less than 0.8050 following some key economic releases. The technical bias shall remain bullish because of a higher high in the ongoing upside move.

AUD/USD Technical Analysis

As of this writing, the pair is being traded around 0.8035. A support can be noted around 0.8000, an immediate horizontal support ahead of 0.7895, the psychological number and then 0.7800, another trendline support as demonstrated in the given below chart. Read more: https://blog.fxopen.com/aussie-dollar-plunges-as-bears-gain-strength/