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AUDUSD: Bears Are Back!!

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Mar 30 2015

AUDUSD is one of the weakest today, trading at lows as USD moves up across the board. On the intraday chart below we see price now moving into 161.8% and 261.8% Fibonacci extension levels that area very common for third waves so some support could be found soon, but only for a short-term bounce up into wave 4 that can be a new opportunity to get involved within a bearish trend. AUDUSD is much weaker than NZDUSD, but even on NZD we see bearish waves ahead, as rally from the low is in three waves, so you can imagine where AUDUSD may fall if we consider that AUD is the weakest.

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