I pulled up the weekly because I see this as a great swing opportunity. The dollar remains strong and its broken the 0.7000 level. Price can go up back to the 0.7100 level but I think its likely to continue down. Weekly the bear bars consecutively have shown strong momentum to the downside. I don't see this reversing in a big way.
US interest rates will go up and geopolitical instability have driven demand. I don't see this theme changing anytime soon. Global growth needs to catch up with the US but there are a lot of headwinds. Inflation , Ukraine war, supply shortages, Covid lockdowns (China), and fed tightening to name a few will continue to make the US dollar a flight to safety.
The probability of AUD/USD getting to 0.6000 is higher because price broke the trading range between 0.7600 an 0.7000. The trend lower is very strong. . This level is significant. I enjoy using line charts because its much easier to find consolidation patterns and trends without all the noise in the market. Keeping things simple have always made me more profitable.