Based on the technical picture, we are in the stage of the downward trend from the peak 01.07.2011. Pair is very oversold, but got stuck in a sideways channel 0.7850 - 0.7500 which was traded in different directions and there is a projection of the resistance and support levels of previous years. AUD / USD reached a 5 year lows and possibly draws lower shadow of a green Monthly candle 07/2015. Long. (OS. Target 0.86, SL 0.7410)