The AUD/USD pair is nearing the long term 38.2% Fibonacci retracement at 0.7639 where it may struggle, according to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank. Key quotes “AUD/USD continues its advance and nears the 38.2% Fibonacci retracement of the 2011-2020 descent at 0.7639. We would allow for some near-term profit taking to take place around this level. It is the breaking point longer term for the 2018 peak at 0.8135.” “The aussie remains immediately bid while it stays above the two-month uptrend line at 0.7496. Below it sits the 0.7413 September high.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Brexit News: UK’s Patel says talks are in a tunnel, parliament to return if needed, GBP/USD tops 1.3580 FX Street 2 years The AUD/USD pair is nearing the long term 38.2% Fibonacci retracement at 0.7639 where it may struggle, according to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank. Key quotes “AUD/USD continues its advance and nears the 38.2% Fibonacci retracement of the 2011-2020 descent at 0.7639. We would allow for some near-term profit taking to take place around this level. It is the breaking point longer term for the 2018 peak at 0.8135.” “The aussie remains immediately bid while it stays above the two-month uptrend line at 0.7496. Below it sits the 0.7413 September high.” Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
