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AUDUSD looks set for a daily chart bear break

Stocks grabbed the headlines on Friday but we seen a lot of moves over various different markets. One of the most interesting is the possible AUDUSD break.

https://preview.redd.it/vm38ciata7281.png?width=1919&format=png&auto=webp&s=d8243c4ec38ef79fa4328ef293b1304e64bc675d

I first flagged up this swing short in the Aussie about 8 months ago when we were trading 0.76250. We're down about 500 pips from there (Which is a big move in the FX markets).

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Before:

https://preview.redd.it/tr3i8pueb7281.png?width=1907&format=png&auto=webp&s=44251d23a4da7075ad80f9323544a5eb46080a56

After:

https://preview.redd.it/hsqg5aglb7281.png?width=1913&format=png&auto=webp&s=93d62e627dfae202932078d14bb4524657a33449

If we go through this level we have a 161 break in the downtrend and this can take us into a vicious fall into the 220 level.

https://preview.redd.it/kfltz35vb7281.png?width=1909&format=png&auto=webp&s=1984201db57945f7cddf4e5829f2c61e328d32a4

This would be almost a 50% decline. The value of the USD would have to get close to double what it currently is relative to the AUD for this to happen. If this were to happen quickly, there'd be a really strong chance this was our early signs the market was going strongly risk off and heading into the USD reserve currency while waiting to see where to move next.

Some really serious shit coming in the FX markets if this turns into a legit break.



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