Technical: Price is pulling back to a key trendline, as well a | A1 Trading Forex Analysis

Technical: Price is pulling back to a key trendline, as well as a strong area of supply - as previously price held as a support here, and now we've broken through to the downside and are retesting this same area. Finally, we are in a strong downtrend on the 4H and Daily chart.


Fundamental: Selling the more lagging economy (Europe) in favor of the rapidly growing Australian economy (AUD) is my play here, and in theory will work out should we maintain a risk on environment (investors, companies, traders favoring more risky assets like AUD) due to a global recovery. I believe market volatility is a pullback in a broader uptrend towards recovery.