The buyers remain in control
The AUDUSD has reached the next major target area near the 0.8030 level. The price corresponds with a number of lows and highs going back to January (see daily chart below). On a break I would expect stops with the 0.80587 as the next target.
If the resistance holds, the trend line on the 5 minute chart needs to be broken. Below that the 38.2-50% are the next targets to get and stay below. Failure to do so keeps the buyers in firm control.
