The big downtrend in the aussie has entered in the last months in a consolidation phase. The last weeks after the RBA announcement the pair started going down again. Now we are in a very strong support zone, so i expect a bounce. Target outlined on the chart ( it may be a bit optimistic). The histogram shows us that the power of bears started to diminish, even though the price continued to go down, so we have a divergence.
Keep in mind the fundamentals, which continue to be against the australian dollar!!!!!
Keep in mind the fundamentals, which continue to be against the australian dollar!!!!!