Tuesday, 3 May 2016

AUD/USD slicing through trend line support after RBA rate cut. Or is it?

Daily chart shows AUD/USD slicing through trend line support after today's rate cut by the RBA.



Long term monthly chart begs the question "or is it"? Shows bullish influence of 7.x year cycle and long term trend line support. Of course, that cycle may have expired, and the trend line may be broken. Let's see.