AUDUSD is approaching our first resistance at 0.7612 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) and is testing our short term ascending pullback resistance line where price might potentially drop to our major support at 0.7561 (horizontal swing low support).
RSI (55) is approaching our resistance and a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is approaching our resistance and a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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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.