AUDUSD - retracement may be coming to an end
The retracements looks like it is going to come to an end soon, it would be interesting to see if the price is able to break past the 0.382 Fibonacci level (personally, I think it would hold). But, if the price does manage to break past this level it is very unlikely that it would have enough momentum to be able to break past the 0.5 level. The price seems to be forming a bullish channel and as the price gets closer to the support level of the resistance the RSI is also getting closer to an oversold level. This may be a pair that you may want to watch for further moves as I believe it will test the support but make further bullish gains.
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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.