AudUsd Midterm Trend
With the expected easing in the DXY, we anticipate an upward movement in AUD/USD. Technically, before this movement begins, the price might retest the previous low at the Fibonacci 38.2% level. If the 38.2% level breaks, it could test the 50% and 61.8% levels. We recommend waiting for the price to reach the 38.2% level before entering a trade. Even if you see short-term upward movements in the price, it is likely that the price will retest the lows before the main uptrend starts. You can place your stop-loss orders below the 61.8% level (0.6490) for your buy trades.
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Related publications
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.