&nbsp;&nbsp;
As demonstrated on the 4h chart, the last two days saw the plummet of the AUD against USD. The renewed price at the time of publication is now 0.7224 around at the time of writing. The price is now well supported above the 0.722 as higher support constructed through November. However, the trend may be extended as negative news from the Trade balance. However, technical readings suggest the pair is going into oversold territory. This Friday is the ADP nonfarm payroll night. It is recommended to take actions after the release. Good NFP will pull down AUD and open the space for 0.72 below.&nbsp;
On the flip side, if the pair can retouch and break the resistance at 0.72773, the bearish trend can be reversed.

AUD expected to extend the bearish period

Dec 01 2020