AUDUSD:- Weekly Close's out extremely weak
AUDUSD:- The pair continues to fall without any form of serious correction in site. We have broken the long-term ascending trendline in April and taken all previous Higher Low swing points. What we can see is the previous significant Low at 0.6800 is the ideal destination over a long-term play if we continue to see bearish momentum on the pair.
The monthly and Weekly and extremely strong and I see no reason Fundamentally as to why we should buy the Australian Dollar right now.
If the Currency pair did have any rallies or correction in price I will be looking to sell them back down in alignment with the above analysis.
I would expect a retest of 0.7160 before any analysis for the week can be decided.