The break below 0.7700 is finding support above the 0.7659 weekly low of 18 January, whilst oversold intraday studies unwind.
Focus is back on congestion around 0.7750, but negative daily studies and deteriorating weekly charts are expected to limit any break to 0.7800/20. An unexpected close above here will turn sentiment outright Positive and extend broad March
AUDUSD gains towards the 0.7915 high of March 2018.
Following corrective trade, fresh losses are looked for, with a later close below 0.7659 confirming continuation of January losses and opening up the 0.7625 Fibonacci retracement.
Still lower is 0.7600.
Focus is back on congestion around 0.7750, but negative daily studies and deteriorating weekly charts are expected to limit any break to 0.7800/20. An unexpected close above here will turn sentiment outright Positive and extend broad March
AUDUSD gains towards the 0.7915 high of March 2018.Following corrective trade, fresh losses are looked for, with a later close below 0.7659 confirming continuation of January losses and opening up the 0.7625 Fibonacci retracement.
Still lower is 0.7600.
We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at continuumeconomics.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at continuumeconomics.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.