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  • While developing lower within the descending bearish  channel, AUD/USD has moved into the eclipse zone which is below both critical  horizontal  support as well as the flash crash trend line support.  
  • The 4HR Cloud is bearish with price developing  below cloud resistance and Tenken-Sen leading the way.  
  • A break of 0.6980 opens the flood gates to 0.68 the figure.  
  • On the flip side, a break above  0.7050 will start to negate the descending  channel’s dominance, clearing out stale shorts and caution  should be applied.

AUD/USD 4HR Chart