Monthly Chart on AUDUSD by ThinkingAnts
Use this as a guide to develop your view.
Main items we can see on the Monthly Chart:
a)The price is on a significant support zone
b)In this zone, we had a reversal movement in the past, after a 40% decline on AUDUSD
c)Currently, we are on a 50% decline and the Major support zone and the Secondary support zone have been tested
d)Based on that, we expect a reaction on current levels, towards the descending trendline.
Main items we can see on the Monthly Chart:
a)The price is on a significant support zone
b)In this zone, we had a reversal movement in the past, after a 40% decline on AUDUSD
c)Currently, we are on a 50% decline and the Major support zone and the Secondary support zone have been tested
d)Based on that, we expect a reaction on current levels, towards the descending trendline.