Home AUD/USD Technical Analysis: Bears eye break to 50% Fibo

AUD/USD Technical Analysis: Bears eye break to 50% Fibo

Updated: 29 Mar. 2019 | 01:02

Bears are targetting a break below the ascending support the 38.2% Fibo of the 2019 swing low/high range for a run to test 0.7012.
On a break below 0.6954, 127.20% ext Fibo of the 8th May – 20th May range, there is scope for the 0.6850/78.6% retracement of the flash crash low.
To the upside, 0.7207 is the end of February high which is in the vicinity of the 200 day sma – a potentially strong level of resistance.

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 posts by FX Street

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.