Bearish:
AUD/USD is currently at 0.7394 in a new channel. We are looking for an initial move to the ATR target at 0.7318 area and then the 0.500 Fibo at 0.7295. Watch the USDX for any change in direction. The ATR for the pair currently is 86 pips per day and its 180 day average is 77 pips per day. USDX is currently trying to go up at the time of this post.
