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Guest Commentary: AUD/USD Mid-term Cycles Remain Bearish

Eric Morera

AUDUSD mid-term cycles in the pair remain bearish. Shorter cycles, however, suggest some corrective strength toward 1.0425 - 1.0460 could be seen before the decline resumes. Traders may look to use any such strength to establish short positions against 1.0602 as only a break of this level will negate our mid-term bearish view. Break of 1.0222 without seeing 1.0425 first would expose 1.0141 before we see a recovery in the pair and lower again.

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