AUD/USD: 4-Hour

AU
Last Friday, the Aussie experienced a huge drop after it had traded above the 1.0400 major psychological level. Given how strong the move down was, it seemed as if the pair would continue selling-off. But with price testing the former broken resistance level at 1.0300, it looks like the bears will be hard-pressed to take the pair lower. Additionally, the pair is heading towards major Fibonacci retracement levels, which could mean that bullish traders could start jumping in again!