AUD/USD Technical Analysis: buyers mark a line in the sand at 0.72

• The Aussie is continuing to drift backwards from a recent four-week high, and support from the 0.72 handle is holding for now, but under increasing pressure as the hourly Slow Stochastics gear up for another push into downside territory.
• On the 4-hour chart, the last swing low remains higher than recent action, but has still made a bearish break of a rising trendline, and sellers may begin to pile in at subsequent swing highs.
• Daily candles remain firmly in a downtrend slant, with the 50-day EMA currrently keeping prices under wraps from just beneath the 0.73 ceiling.

AUD/USD Chart, 1-Hour