Fundamental analysis confirm that the AUD will gain STRENGHT!
TECHNICAL ANALYSIS:
If you go to the lower time frame (12h and 4h) charts you'l see that the AUDUSD formed a lower low.
At the same time the RSI formed a nice divergence not passing the 50% mark in between the HIGHER and LOWER low.
It all depends on the GOLD: Will the BEARS push a little bit more for the USD to go up! USD is much stronger then the AUD in this pair. It has a lot more weight.
Also look at the nice firm BAT PATERN that is formed at the end of this BEARish trend/move.
IMPORTANT: Look at the GOLDs RSI and position your self for a LOND TERM BUY.
GOOD LUCK!
If you go to the lower time frame (12h and 4h) charts you'l see that the AUDUSD formed a lower low.
At the same time the RSI formed a nice divergence not passing the 50% mark in between the HIGHER and LOWER low.
It all depends on the GOLD: Will the BEARS push a little bit more for the USD to go up! USD is much stronger then the AUD in this pair. It has a lot more weight.
Also look at the nice firm BAT PATERN that is formed at the end of this BEARish trend/move.
IMPORTANT: Look at the GOLDs RSI and position your self for a LOND TERM BUY.
GOOD LUCK!