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AUDUSD still in downtrend channel

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The AUDUSD has been preparing for a rally to the upside but bigger picture is showing that the pair shorts might come soon. As we know AUDUSD is hard commodity currency and is linked heavily to copper, bauxite, iron ore, gold, uranium, nickel and lead. Last night, during Asia session iron ore, copper and gold went up and spiked AUDUSD higher. Nevertheless, the pair is still in a downtrend and H3, 61.8, historical sellers are constituting POC zone 0.7200-10. If the pair rallies up, the POC

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