Mirror, mirror on the wall tell us what to looking for… Why do we start today's alert this way? Because on the one hand the Australian dollar hit a fresh low against its U.S. counterpart and tested the support area created by Fibonacci supports. On the other hand, sell signals generated by the indicators remain in the cards. What to do about it? We know.

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Recent days showed that currency bulls are not as strong as it seemed after a fairly dynamic bounce that we could see almost a week ago. Despite the initial spurt, the buyers didn’t even manage to reach the first a bit more important resistance. Time showed that we did not have to wait long for the consequences of this manifestation of weakness. Does it mean that a fresh low is ahead of us? Is there anything that can stop sellers from such a victory?

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Recent bears’ attempts to come back under the previously-broken upper border of the trend channel failed, which means that the buyers are quite determined to keep this territory. What can this lead to in the next days?

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Will invalidation of the breakdown under the long-term support line be enough to encourage currency bulls for further activity in the coming week?

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Recent days were quite good for currency bulls as they manage to break above the consolidation and climb to the previously-broken late March and early April lows. Will there be bears willing to fight for lower values of AUD/USD?

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