Home AUD/USD technical analysis: lowest levels since flash crash with upside reversion target at 0.6915 swing low

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AUD/USD technical analysis: lowest levels since flash crash with upside reversion target at 0.6915 swing low

FX Street

Published date: 17 May. 2019 | 03:57

AUD/USD is now oversold on a short term and daily basis.
AUD/USD likely needs correction before sinking lower towards the said target down in the 0.6850’s.
0.6855 is the 78.6% Fibo target.
A correction to the upside opens 0.6915 as the last bullish stick’s lows on the 4HR outlook, a swing low following the decline from 0.6950.

Daily chart and oversold stochastics with 78.6% Fibo target:

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