After spending most of 2016 in an uptrend, AUDUSD has broken through the longer term trendline and closed below followed by sharp bearish closes. Retracements are imminent as it is very oversold but a continuation of the downtrend is very much on the cards. Some long term swing lows are coming up which could trigger stops so vigilance is needed when entering longs for the pullback. Otherwise wait for the retracement to enter shorts