The comment I would make though, and I'm no forex expert by ny means, is that I dont see a confirmed longer term downtrend in the audusd chart though. For that to be confirmed for me I'd like to see a lower high than the Jan high at around 93. I suppose we can get really technical and call that high slightly lower than the November high and sometimes these strict technical definitions do make a difference.
For me the jury's out until we see where this wave up tops out. If its clearly below 93 then yes I would say longer term downtrend, but if it attempts to break resistance again at 93 and fails that to me wouldnt certify a downtrend.
CHeers, Sharks.
AUD Price at posting:
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