HumbleTraders
Short

AUDUSD testing upper border and ready for more decline

FX:AUDUSD   Australian Dollar / U.S. Dollar
34 1 0
Upper border of the descending channel tested in today's session. Expect downtrend to continue. Any break of resistance would suggest more upside in short term
AUDUSD advanced towards 0.8800 completing the descending channel formation. As expected, Aussie, bounced off the resistance and was trading lower since. We expect this trend to continue. We should see this market to break multi year lows in the coming weeks.
Only return above 0.88 would indicate further strength.
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