Prepare for a BEAR RUN! 4000 Pips Ahead!
As the world's second-largest producer of gold (third largest some years), the Australian dollar has a high positive correlation with the precious metal.
Therefore, it has gained more momentum compared to other major currencies coupled with the weakening of the dollar.
Technically; this pair has failed to retrace into her channel and respecting her key level 1.8420 -1.8460 by forming a triple top in a triangle pattern.
I'm expecting that this pair will resume its bearish momentum for the second round and this would be a great opportunity for swing.
This is a long term idea.
Good luck.
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Feragatname
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