Blog post

Technical Analysis: 100-bar SMA, 38.2% Fibonacci keep AUDUSD buyers in check

Gradual recoveries from 0.6850 fail to cross a confluence of 100-bar SMA and 8.2% Fibonacci retracement of the AUDUSD pair's November-December 2019 upside, around 0.6925/30. As a result, the bear's are looking for the pair's declines below the three-month-old rising trend line and 61.8% Fibonacci retracement, near 0.6860/55, to revisit 0.6835 and 0.6800 numbers to the south.

If the quote rallies well beyond 0.6930 23.6% Fibonacci retracement near 0.6965 and 0.7000 round figure will be on the bull's radar. Furthermore, the price run past-0.7000 will have to surpass December 2019 top near 0.7030 to question July's high near 0.7085.

Join us on FB and Twitter to stay updated on the latest market events.

Our awards

award1 award2 award3 award4