Since beginning of the year AUDUSD is in the group of the most decreasing pairs. Main reasons for that is mostly bad situation in China and bearish trend lasting few years already. Last decreases shouldn’t be a surprise because price is going south for 4 years now. Monthly chart shows that line connecting last lows was broke recently. It means that deepening last year’s low (0.69065) can be a sign of really huge decreases.
THIS ANALYSIS WAS CREATED IN COOPERATION WITH XM BROKER. OPEN FREE XM ACCOUNT AND GET FREE $30 FOR YOUR TRADING.
It is also confirmed by daily chart where we can see breaking bullish line which connected 4 lows in 2015. Its fall can mean continuation of wider bearish trend. It looks like the closest target should be last year’s low. We have 120 pips to earn.