The AUDUSD lost significant ground yesterday. After closing back above the 0.7320 area on Monday and beginning to look quite bullish, sellers erased 100 pips in just 24 hours on Thursday. As I type this, the pair is hovering just below 0.7320. Whether the area is more significant this time around is anyone’s guess, so we’ll need to wait and see. I would caution against selling the AUDUSD though. Despite a downtrend that has consumed most of 2018 so far, there is a falling wedge that has developed over the past few months. I mentioned this pattern in Sunday’s forecast. If it is indeed a falling wedge and buyers can ... (full story)