Get started
Australian Dollar / U.S. Dollar
Short

AUDUSD starting to reverse nicely, watch this space!

By Tickmill
Broker

AUDUSD has started to test our major resistance and is reversing nicely. Our major resistance remains at 0.7988 (78.6% Fibonacci retracement, horizontal swing high resistance, bearish divergence) and a strong drop could occur at this level to push price down towards 0.7883 support (23.6% Fibonacci retracement, horizontal pullback support).

RSI (34) sees bearish divergence versus price signaling that a potential reversal is upcoming.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
audAUDUSDaudusdforecastaudusdlongaudusdsellaudusdshortaudusdsignalChart PatternsForexHarmonic PatternsTrend AnalysisUSD
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Also on:

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.