Aussie Update
AUD/USD appeared to be on track to test the yearly low (0.6349) amid the bearish prices series but lack of momentum to break/close below the 0.6380 (78.6% Fibonacci retracement) to 0.6410 (50% Fibonacci extension) region may push the exchange rate back towards the 0.6510 (38.2% Fibonacci retracement) to 0.6520 (23.6% Fibonacci retracement) zone.
Next area of interest comes in around 0.6590 (38.2% Fibonacci extension) to 0.6600 (23.6% Fibonacci retracement) but the recent rebound in AUD/USD may unravel should if fail to defend the weekly low (0.6441).
A break/close below the 0.6380 (78.6% Fibonacci retracement) to 0.6410 (50% Fibonacci extension) region raises the scope for a move towards the yearly low (0.6349), with the next area of interest coming in around the 2023 low (0.6270).
Next area of interest comes in around 0.6590 (38.2% Fibonacci extension) to 0.6600 (23.6% Fibonacci retracement) but the recent rebound in AUD/USD may unravel should if fail to defend the weekly low (0.6441).
A break/close below the 0.6380 (78.6% Fibonacci retracement) to 0.6410 (50% Fibonacci extension) region raises the scope for a move towards the yearly low (0.6349), with the next area of interest coming in around the 2023 low (0.6270).
Note
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