Interesting trend lines for the Aussi

As you may have noticed already, we use AUDUSD quite frequently to assess risk appetite among investors which turn out to be a good proxy for stocks markets.

We are seeing some important LT trendlines tested last week. Decay in momentum also increase possibilities of a deep correction after an initial pop early next week.




If the ST trendline (dashed) is broken, we can expect a sizable correction next week since major trendline (black) has been backtested and failed.