The AUDUSD is aligned to commodities like: coal, gold, copper, iron ore, rare metals. If it moves up that is in the anticipation that either the USD is moving down, or AUD will be strong because of exports.

Offset higher exports prices and revenue with the Australian central bank lower interest rates intentions. At the moment the AUDUSD (or FXA ETF) is at the critical point of trend determination, or another 'Jesse Livermore' pivot point.

If we get a bounce, it better hold, otherwise AUDUSD is going down hard! Expect a bounce! A trend change to new high may be too ambitious.
 

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and cycle is looking bullish

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Investing Quote...

.."Don't take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don't be an impatient trader"...

Jesse Livermore

.."The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market."..

George Soros