FX:AUDUSD   Australian Dollar / U.S. Dollar

AUDUSD D1 Chart, I have identified a downtrend with higher highs and higher lows highlighted, Price level touching the resistance for the trend, also where the 61.8 fib level is situated. The Fib was drawn from the last higher high to the lowest point. TP level targeted at the Month support, and the stop loss at 30pips above the 78.60% fib level. Predictions are for the trade to follow the trend till the Month Support is tested then head its way back up towards the resistance.