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Forex technical analysis: AUDUSD falls back below support level. What next and why?

Discussion in 'Technical Analysis' started by ForexLive, Mar 24, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Risk at 0.7531-59 now The AUDUSD has been trending higher since bottoming in January. The move higher moved above what was a low floor going back to March and April of 2015. At that time the price bottomed in this area and bounced. When the level was broken in July, the last test (see blue circle 4) was against the yellow area before moving to Sept 2015 lows. Why is this important? Because the market will remember....

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