The AUD/USD stalls its decline at the 0.8700 level

The Australian Dollar versus the US Dollar has made a 100 pip move after it touched the 0.8800 zone and plummeted to the 0.8700 level due to strengthening of the greenback. On the 4 hour chart we can see the drop on the pair and how it tries to bounce to the upside from the 0.8700 level. We may probably see a higher bounce from this area, but if the US Dollar continues to strengthen during the following days we could see a breakdown of the 0.8700. In such a case, we may see some opportunities to try going short on the pair below the 0.8700 level.