Home AUD/USD Technical Analysis: Bears looking to break below 61.8% Fibo for run to 0.6954

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AUD/USD Technical Analysis: Bears looking to break below 61.8% Fibo for run to 0.6954

FX Street

Updated: 28 Mar. 2019 | 01:27

Bears are targetting a break below the ascending support and the 61.8% Fibo of the recent swing low/high range for a run to test 0.7002.
On a break below 0.6954, 127.20% Fibo, there is scope for the 0.6857/78.6% retracement of the flash crash low.
To the upside, 0.7207 is the end of February high which is just below the 0.7212 200 day ma – a potentially strong level of resistance.

AUD/USD daily chart

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