AUDUSD broke out of its descending resistance line!
AUDUSD broke out of its descending resistance line where it could potentially bounce on weakness at 0.7746 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where prices could rise all the way up to its resistance at 0.7845 (76.4% Fibonacci retracement, 100% Fibonacci extension, 61.8% Fibonacci extension). We have also identified another support at 0.7704 (61.8% Fibonacci retracement).
RSI (89) shows a corresponding break out where we expect to see a similar drop.
RSI (89) shows a corresponding break out where we expect to see a similar drop.
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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.
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.