Saturday, 17 October 2015

AUD/USD lower from trend line resistance

Daily chart shows the AUD/USD turning lower from around dual trend line resistance. Sorry for lack of clarity but I wanted to zoom out and show where the down trend line begins. That line might look questionable to many as it doesn't touch extremes. Instead touches opens and closes in GMT. Line chart might work better. Have a play.



Next chart zooms in. Below 0.72 should confirm a bearish false break higher from the blue channel.