aandragon
Long

AUDUSD test of resistance

FX:AUDUSD   Australian Dollar/U.S. Dollar
25 0 0
The AUDUSD             pair looks like it going to test the long term trend (pink) line which happily coincides with the horizontal resistance (blue) line.

There is RSI divergence on the weekly chart and maybe with MACD too. These are signs that a trend reversal may be underway.

If resistance holds, a new longer term downtrend will resume. If it is broken to the upside, that means the long-term uptrend is still intact.

In these markets, anything can happen. Good luck.
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