![](https://cdn.steemitimages.com/DQmSW2oCVXueoRUvDTZMZZmkVS3LLCsCXqRYdD2pXgkxoja/image.png)

The montly chart on this forex cross, at this stage, does not paint a pretty picture. Whilst I'm looking for USD weakness here, Aussie and Kiwi Dollar have been laggards among the majors and look to be marching to their own beat.  The only saving grace at the moment is that the daily chart shows each low hasn't yet been met by momentum confirmation, by way of RSI hitting <30.

![](https://cdn.steemitimages.com/DQmXaRWryMNRVrgiLoobrYpRasiiZG24aKQbmHA5oWTjvVn/image.png)

However, should price print a new low with RSI falling below 30 and confirming the move, I would be expecting lower prices, with the Jan '16 low being next support. Below that, next support is down at the GFC low. 

I would need to see the channel on the daily broken to the upside and the trend regained on the monthly before I can turn at the minimum neutral.