The Australian Dollar Forecast
wE'RE AT A TESTING POINT FOR THE AUSSIE DOLLAR
We're entering into interesting territory now with the Australian Dollar as we're revisiting the Lows of 2016. As seen on the above chart, this market has been locked into a sideways, trend-less price zone since 2015. Sideways markets like to dominate, but, even trend-less markets must end someday. As we're at the bottom-end of the sideways range, we need to be aware of the price momentum that accompanies this approach to the previous Lows.
The Point & Figure Chart above, shows that the drive to new Lows is strong and has not reversed as yet. This means that there is a higher liklihood to break to lower lows at present.
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