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AUD/USD: Have we seen a long-term bottom near .7000?

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 21, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    With markets essentially trapped in near-term stasis as traders wait for higher impact data, it’s a good time to take a step back and look at the longer-term technical picture on AUD/USD. For more than a year, from mid-2014 to mid-2015, the Aussie consistently lost value against the greenback, dropping more than 2,500 pips in the process. Over the last half of 2015 though, something interesting happened: AUD/USD stopped going down. It might sound like a bit of a meaningless tautology, but for

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