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AUD/USD - September's Falling Trendline Still in Play

AUD/USD has been sharply bearish in September, after retreating from 0.94. This week, price continues to be bearish right out the gate. Then, after a session of consolidation, we can see that price respected September's falling trendline as resistance. 

(AUD/USD 4H Chart 9/23)

The 4H candle falling from the trendline engulfed the consolidation candles and made a new low on the month. 

When we look at the weekly chart, we can see that price is now below the March low, and the 2013 low. The next support might be the 2014-low at 0.8660. With the prevailing mode bearish in the weekly chart, don't be surprised if price falls below that 0.8660 low.

(AUD/USD weekly chart 9/23)