A daily close below support in the 0.7315-35 area (50% Fibonacci expansion, inflection point) opens the door for a challenge of the 61.8% level at 0.7230. Alternatively, a move back above the May 9 low at 0.7413, now recast as resistance, paves the way for a retest of the 23.6% Fib at 0.7506.
The short AUD/USD trade activated at 0.7608 and then scaled up near 0.7530 remains active. An actionable opportunity to grow exposure further looks to be absent at this time but positioning will be actively monitored for any such openings. A stop-loss will be activated on a discretionary basis.
