Being very picky with my language. The ASX 200 closed after hours trading for the week just below the illustrated long term support. Given that support and resistance levels are not precise, more zones than levels, and given also that the US market closed the week above up trend line support, we can't rule out the ASX 200 trading next week back up between the illustrated levels. Though no point being bullish on it unless we see a close above 5000, in my opinion.
First the Weekly chart
Daily chart. The completed throw-over of the trend channel supports the immediately bearish case ie. that resistance will hold and the market will head lower.
Same old, same old.... have been showing these patterns for quite some time, and they still fit. Anybody who claims they know which way the AUD/USD will break or what it will do whilst inside these ranges is kidding themselves.... even/especially yours truly.