wow this chart scares the shit out of me, I can look at the Bitcoin chart and say the same but like they say the trend is your friend and for the Aussie prices are down down down!
anyways lets keep it stupid simple like I do with all my trading, zoom out to the 6 month chart and you'll see we have a strong demand zone at .70 we are teasing that range and if we have a monthly close under it the path of least resistance would be lower.
invalidation of trade is at .79 monthly close
I don't do fundamental's but Australia is not looking good first with QE and now trade wars with China, to stay relevant it would be Australia's best interest to keep its dollar down.
its the race to the bottom.
anyways lets keep it stupid simple like I do with all my trading, zoom out to the 6 month chart and you'll see we have a strong demand zone at .70 we are teasing that range and if we have a monthly close under it the path of least resistance would be lower.
invalidation of trade is at .79 monthly close
I don't do fundamental's but Australia is not looking good first with QE and now trade wars with China, to stay relevant it would be Australia's best interest to keep its dollar down.
its the race to the bottom.