AUD/USD Price Analysis: Bears seek out the daily 61.8% Fibo AUDUSD Technical Analysis
The bias remains bearish towards the daily 61.8% Fibo area., the bears made their moves and squeeze longs out all the way to a 50% mean reversion of the prior daily bullish impulses range. The following is an analysis of the moves and offers possibilities for the forthcoming sessions and days. The pair were meeting resistance and the support structures were then put into focus.
The 4-hour chart shows the price correction from the 0.6750 area. This leaves prospects of a move-in on the 38.2% Fibonacci a 50% mean reversion to test the 0.68 figure again and even a 61.8% ratio higher up prior to the next downside impulse getting underway. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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