The Aussie has been locally overbought and eventually lost about 75 points in two days
Commodities showed a decline yesterday. Crude oil lost 1.04%, the wheat lost 1.31%. However, the iron ore and non-ferrous metals remain on the peak of the current month.
Investors have recorded growth in yields on Australian government bonds but this is due to a sharp jump in oil prices.
The correlation between the American and the Australian dollar increases.
How to trade
On the hourly chart, the pair AUD/USD has the key levels: 0.7852, 0.7791, 0.7735, 0.7713. If the pair overcomes the mark of 0.7791, it will continue to move to the area of 0.7852. The short-term bearish movement is expected in the range of 0.7736 - 0.7713. We should buy call options if the pair rises above 0.7791. We should buy put binary options if the pair falls below 0.7736.
Expiry time: 20:00 GMT