Thread: Australian Dollar / US Dollar Monthly Technical Forecast

The AUDUSD drop from .9856 was in 5 waves and composes either wave 1 of a larger degree bearish impulse or wave A of a 3 wave decline. In both cases, the bearish target is below .60. A flat is unfolding as either wave 2 or B. Near term weakness in wave iv of C should be followed by a ...

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Once again, the pair is rebounding thanks to the climb in commodities. Right now, it is trading at 0.8028. If this trend doesn't change, the next target is at 0.8090. However, if it reverts, the nearest support is at 0.8000.