AUD/USD (Long)
Price action seems to be very over-sold as the RSI graph is currently residing below the 30 level and there is a sharp deviation from the 50 EMA. The recent sharp down trend seems to be caused by the RBA interest rate decision and also the strength of the US dollar due to the FED forecasts and economic data releases. I feel that since this move was fundamentally driven, price action will retrace back to its original trading levels before the effects of the economic factors and even continue to what I believe was the original trajectory of this currency pair which was towards the 0.73500 level.
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