Trend is bearish in 4 hours chart of AUD/USD currency pair. Important resistance is present at 0.7737 price level. Since last week, price action is bearish and I expect further drop in price towards 0.7182 price level. As long as price stays below 0.7737 resistance level it is safe to look for sell trade setups using 1 hour or 15 minute time frames. However; a bullish break out above 0.7737 critical resistance will end the down trend. In this case, I would prefer to stay out of the market and re-analyze the price action.
