Update on AUDUSD: Aug 26, 2013

Not that long ago, AUDUSD served as a great indicator for US equities.  It still is at times, but the slide since April has been pretty steady.  The charts I posted last Jan 11 haven’t needed much updating:

At the time, a Bat Pattern had completed at the top of a corrective channel (in white, above) after the breakdown of a rising wedge.  It looked fairly bleak for the pair.

And, in fact, the Sep 2012 high of 1.0623 never was broken.  Seven months later, AUDUSD has reached the bottom of that white channel.  Seems like a good time to revisit the charts.

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