AUD/USD DAILY DAILY BEARISH A,B,C,D, FIB HAS RECENTLY BEEN FULFILLED.
BOUNCE TO THE UPSIDE EXPECTED TO FORM A NEW LOWER HIGH BEFORE FALLING TO THE WEEKLY OVERALL FIB 2 TARGET.
FRIDAY THE 19TH DECEMBER DAILY CANDLE CLOSE NEARLY SCRAPED A BULLISH ENGULFING BUT NOTHING SUBSTANTIAL IN TERMS OF BULLISH MOMENTUM.
DUE TO FULFILLING THE DAILY FIB D EXTENSION AT 0.8140 WE COULD POSSIBLY SEE A SMALL BOUNCE TO THE UPSIDE...MAYBE EVEN TO CREATE A NEW LOWER SWING HIGH, MAYBE A 4TH T.L BOUNCE BEFORE RESUMING THE OVERALL DOWNTREND AND REACHING THE 0.7750-90 WEEKLY FIBONACCI EXTENSION 2
OVERALL THE LONGER TIMEFRAMES FOR AUSSIE ARE POINTING SOUTH AS WE ALSO HAD A STRONG MONTHLY KUMO BREAK FOR NOVEMBER CLOSE...
WILL BE CHECKING BACK ON THIS PAIR THE 5TH OF JANUARY.