Primary Cycles
The start of the new year brings in the new Primary Cycles for 2016.
I've always had the view that the AUD will try and rise upwards before it continues its next leg downward into the 2016 lows
There are 3 Short zones that can provide the areas of resistance.
January highs @ .7412.
2016 50% level @ .7482
2015 level @ .7567
Each of those levels will provide areas of resistance, but it would not surprise me to see the AUD actually push as high as .7567, because I always look for trends to re-test the previous breakout zones.
In conclusion:- the AUD is heading lower as part of the Primary Cycles for 2016, with 3 areas that will provide some resistance, as the AUD trends down towards .6800/ .6644 BUY Zone
