The AUD/USD has decreased a little today and has tested an important broken dynamic resistance, could still increase further in the coming days if will have enough energy to stay above 0.7457 today’s low. The rate has decreased somehow surprisingly because the USDX has jumped higher, however the AUD/USD minor drop was somehow expected after the impressive rally, the pair has increased sharply in the previous week and maybe he needs to recapture more directional energy before will resume the upside movement.

Remains to see what will happen on the USDX because an increase will force the currency pair to decrease further in the coming days, but the fundamental factors will take the lead in the early morning because Australia will release the Home Loans indicator, which could increase by 0.1% in November, the loans could increase again after the 0.8% drop from October. Moreover the Australian New Motor Vechicle Sales will be published by the Australian Bureau of Statistics, this event could bring some action on the AUD/USD.

The Aussie has failed to increase even if the Australian MI Inflation Gauge surged by 0.5% in December, has increased more versus the 0.1% growth from November.

The rate has decreased and has touched the 150% Fibonacci line (ascending dotted line), but continues to stay above this broken dynamic resistance, could increase further if will have enough energy to stay above this obstacle (resistance has turned into support). The next upside target remains at the upper median line (uml) of the minor ascending pitchfork, will approach this line if will stay above the 150% Fibonacci line.

However, a drop below the 150% Fibonacci line will attract more sellers, which will lead the price towards the median line (ml) of the minor ascending pitchfork, could still increase in the coming period even if we’ll have a minor decrease. I want to remind you that the major target remains at the upper median line (UML) of the major descending pitchfork, could approach this level after a retest of the median line (ml) of the minor ascending pitchfork.