AUDUSD failed to break above the bearish trend line on the daily chart and pulled back to 0.7200 area, suggesting that the pair remains in the downtrend from 0.8135 and the bounce from 0.7085 could be treated as consolidation for the downtrend. Further decline could be expected and a breakdown below 0.7085 previous could take the price towards 0.6900. Only a clear break above the trend line resistance could signal completion of the downtrend.
