AUD/USD Primary Cycles
the AUD is heading lower as part of the Primary Cycles for 2016, with 3 areas that will provide some resistance (Previous Report)
Sadly, the AUD didn't reach those resistance areas, and now looks to be completing the move down into the 2016 lows earlier than expected.
These lows are seen as Major Support in 2016, especially if it reaches .6703.
However, there's a breakout of the January lows @ .7043 that's likely going to form resistance for the rest of the month.
Any long term buying support in the AUD will probably move into another stalled movement because of this, however we can reassess the price action at the start of February.
