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Nov 23 - 01:55 AM

AUD/USD - Depressed, After Failure To Reclaim Fibo Support

By Ewen Chew  —  Nov 23 - 01:20 AM
  • AUD/USD likely keeps falling after failed rebound; last 0.7216

  • Monday's attempt to reclaim Fibo line 0.7264 disappointed

  • Ceiling of Bollinger downtrend channel now converges with Fibo

  • Strong resistance at that level will motivate more selling

  • Intraday target is base of channel at 0.7165, before Aug low

  • Heightened UST yields, after Powell nomination, boosting USD

  • For more click on FXBUZ


Source:
Refinitiv IFR Research/Market Commentary

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