AUDUSD Full Monthly View

TECHNICAL ANALYSIS:
-Since the 2002 the price has been following a really strong trendline, bouncing on it and keeping the price over this level for 13 years.

-In July 2015 the price broke the trendline during a clear downtrend, bouncing on the support level at about 0.70000 and failing any attemp to break the resistance zone at about 0.76402.

-In January 2018, the price was rejected one more time before falling down in a long downtrend, concluded with a big bounce on a strong monthly support level.

CONCLUSION:
The price is actually reaching an important resistance zone, I aspect the market get a correction, bouncing eventually on the support level at 0.70000, before moving up again, trying to reach our previous "historical" trendline.

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Gianni
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