Looking at the shorter time frames there are some long opportunities but looking at the bigger picture (W) the bias remains strongly bearish . Therefore any long orders should be very short term. We can see that the pair now is encountering some resistance (Area highlighted in Grey) which is why I expect a minor pullback before the bigger downward move. We don't know how long the retracement can last but as previously mentioned the positions we'll be eager to look for are short positions. From that point we can expect the pair to move all the way down to the bottom trendline before heading back up and form, by the looks of it, an Ascending Wedge correction. (3-3-3-3-3)
Trade safe and implement your own due diligence before entering a trade.
.78 is a huge support level. AUD.USD is going to 0.9 quickly.
corsicasia
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@sweetcheese, i dont think that au wll go to 0.9 quickly..based on wich fundamental and technical analysis ? for my view i am with sN_Doumet..all factor are against Au to up..maybe in short ile of course but on swing,long trade..it bearish until have a surprised reversal coz of some bad news about trump adminstration or real bad tata next month...is bearish since 2 week and will stay...only a oullback on fibo retarcelent can happens on short time