Near Term Trend: Bearish, but nearing support
As of 12/8/17 close: 0.75058
UPDATE: Last week, I suggested buying AUDUSD near 0.75506 with stops below 0.75317 and with a target of 0.85651.
The AUDUSD broke through short-term support late last week. I re-drew the Fibonacci projection lines to the most extreme set of pivots that gives us the lowest possible bullish support of 0.74951. Any close below that would crush the bulls hopes in the short-term. A hold, however, could lead to a nice rally. Worth buying AUDUSD near 0.74951 with stops on a daily close below that. Tgt. 0.85651.