AUDUSD Weekly Chart Bottoming

AUDUSD is making a tradable bottom on the weekly chart as seen by the RSI, Stochastics rising off overold levels. The weekly MACD blue line is still sloping a bit down, but appears to be in the early stage of flattening. Significantly, you can see AUDUSD having found support close to current levels in early 2014 and early 2010. AUDUSD broke briefly below this major .86 support level in May/June 2010, forming a major bottom near .80. This downside risk / support line becomes more relevant when viewing AUDUSD using a monthly chart, where bearishness persists longer term.

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