AUDUSD Pushing Past Barriers.
The Aussie has been surprisingly strong going into this week with only US fundamentals giving it a stir recently. After bouncing off the new support @ .7777 we have since smashed through 3 Fibonacci levels. Also breaching a major daily resistance @ .7868 level. For this pair to continue to push higher a break of the 78.6% fib to establish a bullish overarching trend. Current target area is .800 level with a retest of the .791 as an outside return before bullishly moving to the upside. A favored position could be to enter at the retest of the .791 level but could push lower back to major support @ .7868. A breach of these levels could invalidate the bull bias and continue forming lower highs & lows. If the pair continues with its current momentum by the end of the month we could meet our targets met and a new structure high could potentially be formed.
Thank you for reading! Hope you enjoyed!
Leave a like and/or comment if you found this helpful.
Stay Winning, Stay Successful!
Thank you for reading! Hope you enjoyed!
Leave a like and/or comment if you found this helpful.
Stay Winning, Stay Successful!
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.