AUDUSD finally heading back down?
Updated
Looking at the daily and weekly trend, AUDUSD is clearly in an overall bearish market. After hitting lows of 0.6830 during mid January before heading back up, AUDUSD made a clear stop at 61.8% fib levels on January 28th. Could this be the signal we've all been waiting for? A beautiful spinning top could be seen forming, and what I can expect from this pair is a drop to AT LEAST 0.70168 levels will hopes of passing by the previous lows of 0.6830.
Note
Trend line is broken on the 4hr chart
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