AUD/USD Early Year Trendline Test
Chart Prepared by Jamie Saettele, CMT
-Remember, “AUD/USD has followed through on its outside week reversal (lower) so broad focus is still lower”…and “a bear flag has formed, suggesting that the broader move lower is resuming…the last week or so of sideways trade is seen as nothing more than a pause until weakness resumes towards .7000.” Put up or shut up time for bears in Aussie. Strength through .7370 would do structural damage to the bear case and strength towards 2016 range highs would start to become more of a reality.
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