Is AUDUSD reversing?

FX:AUDUSD   Australian Dollar / U.S. Dollar
54 3 4
AUDUSD             looks like it may be reversing on both the daily and weekly charts. May look for a long setup if it can break resistance at 0.7800.
I'm going to keep an eye on this ... Question: Do you think it has done enough correction to the downside??
There is an infamous date when new regulations take effect--I think SEC--Money Market funds need to find new places to put Hundreds of millions .. and Billions?? of funds to satisfy new Regulations. Could be here With Aussie!!
RrrussT1 RrrussT1
Oh crap-- the Infamous Date is Oct 14, 2016 !!!
roni511 RrrussT1
I have no idea, I'll wait until it completes the reversal pattern, breaks above resistance and consolidates before considering this trade.
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