Saturday, 12 December 2015

AUD/USD choppy, turned lower at big trend line resistance

Daily chart the AUD/USD recently chopping broadly sideways. The larger trend is down, so plan for this period of choppiness to be followed by a decline to fresh lows.

Weekly chart shows that the market has turned down from resistance at the lower parallel line. The current period of choppiness has perhaps already peaked

Monthly chart shows that the current choppiness coincides with the market battling to break through long term trend line support.

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