AUD/USD Price Analysis: Bulls lack upside conviction at daily resistance

• AUD/USD meets critical resistance at a confluence of structure and a 38.2% Fibo.
• Bears eye a downside opportunity at this juncture. 

AUD/USD is lacking momentum on the upside which makes for a compelling case for the downside at this juncture, as illustrated in the following daily chart:

Daily chart

The price is consolidating with failures at resistance above a key support stricture that guards the next major demand zone.