Mihai_Iacob

AudUsd- Genuine break of support?

Short
OANDA:AUDUSD   Australian Dollar / U.S. Dollar
The long-term trend for AudUsd is clearly short with the pair dropping for almost a year now.
After reaching 0.7 important figure, AudUsd has started to correct higher and had a local top at 0.73 resistance.
The rise from the bottom is corrective in nature and is drowing a flag on our daily chart , on Friday we have a break under this flag's trend line resistance and also under horizontal support at around 0.72.
This seems to be a genuine break and I expect continuation.
The first target for bears can be 0.7

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