From 2011, when AudUsd was trading well above parity, the pair is trading downwards.
Now, after the recent low at 0.55, AudUsd is recovering and is approaching the strong confluence resistance zone between 0.6850 and 0.6950.
On the long run, I expect a new leg down to at least 0.63- 0.64 zone before we can consider a long term change of trend.
Now, after the recent low at 0.55, AudUsd is recovering and is approaching the strong confluence resistance zone between 0.6850 and 0.6950.
On the long run, I expect a new leg down to at least 0.63- 0.64 zone before we can consider a long term change of trend.
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