Ever since January 2018, the Australian Dollar has been losing to the U.S. Dollar. This has resulted to several lower highs and lower lows. The last time the $AUD got to this point was in November 2016. And it was a major support level. In between these years, the momentum of price was not one-sided. Now, as the $USD gains from the $AUD, there is no trace of price been oversold. The downward movement has attracted about 1000 pips since January up till now. The $USD might still gain at least 100pips.
No doubt, the $USD has gained so much in 2018 against counter currencies. Price movement has only maintained the lower section of the band for a long time and not yet oversold on the RSI. Recently, there was a breakout downward of the support level. A reversal towards the uptrend started also when price touched the lower band line. This could be a temporary reversal because several dojis are formed. There are few times price tried to move upwards to the higher band, it retraces back to the lower section indicating a larger volume of sales going on in favour of the $USD. As it looks, the $AUDUSD might continue the downward movement.