AUD/USD: Coming under pressure
14:15 GMT - Anticipated losses have spiked below congestion around 0.7650, with unwinding oversold intraday studies prompting a bounce from the 0.7620 Fibonacci retracement. Short-term gains are possible, before negative daily stochastics and the falling Tension Indicator extend losses still further. A later break below 0.7620 will open up critical support at the 0.7564 current year low from 2 February. Meanwhile, resistance is at 0.7800 and should prove difficult to reach.
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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.