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Monthly Time Frame: Starting on the monthly time frame we can see AUDUSD managed to break through monthly psychological .66750. reading price action, we can see we managed to close off strong bearish candlesitcks signifying potential continuation.
Weekly Time Frame: Scaling down we can see that price was consolidating in between previous monthly ranges. After a strong bearish engulfing price fell down to .64750 (midway point of the next monthly zone .63000 psychological).
Daily Time Frame: Scaling down further we can see price testing a daily down trend and moving averages. If price manages to stay below .66750 monthly psychological then, we can anticipate new lows and targets to fulfill. Due to uncertainty of markert fluidity, risk management is key.
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