AUDUSD on its most important week of the past 5 years.The AUDUSD pair has been trading on a strong bearish trend under the heavy Resistance pressure of the 5-year Lower Highs trend-line, which just broke above it this week.
This is the most critical multi-year test for the pair as a weekly closing above the Lower Highs trend-line, thus the 1W MA200 (orange trend-line) also which has been intact since Jan 2023, will place the market on a new potentially long-term bullish trend.
If it closes below the Lowe Highs trend-line though, that would be the most optimal sell signal to target the 0.786 Fibonacci level at 0.60700.
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