1. Long — term trend is still . Most of the time the price continue trend move.
2. Major currencies (EUR, NZD, CHF, JPY) move down like Australian dollar .
3. Take look on weekly chart, the price closed under key levels 0.7145 and 0.7089
The main Law of is: under key level open Short.
4. On the next week I will look for Short entry near key level 0.70884 with low risk.
Long I will open near 2 years low 0.6826, because under that level many traders hide their stop loses. On the market, if big players want to buy someone needs to sell it to them.
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Also write in comments, what you think about AUD/USD .
Where do you want to open Short or Long?