AUD/USD: Even though there is a super shallow retracement on

Tian Kriek

Analyst


September 20, 2019 07:21 AM

BULLISH

Daily Trading Range:
AUD/USD: Even though there is a super shallow retracement on the Monthly Fibs, the mere fact that the large up trend line on the Monthly time frame has been broken means that price is likely to continue lower and even attempt to hit the 1.618 without retracing deeper. The weekly time frame is also in a down ABCD swing. The Daily Fibs are also in a Down ABCD swing and the Daily StochasticRSI is also in the Sell Zone. On the 2 Hour chart there is upside potential for about +50 pips to the fib D extension which is an attractive price for a sell trade

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 0.7750
Resistance 2: 0.8460
Resistance 1: 0.8530
Current Price 0.6789
Support 1: 0.7050
Support 2: 0.7000
Support 3: 0.6950

Two Hour Chart

Two Hour Chart
The market is moving can you keep up?