By Martin Miller — Mar 03 - 02:59 AM
• AUD/USD last week breached the 0.6211 Fibo, but failed to close below
• 0.6211 Fibo is a 61.8% retrace of the 0.6089 to 0.6409 February rise
• However 14-day momentum recently turned negative on Thursday: bearish
• We remain short at 0.6300 for losses to our 0.6105 target
• Our stop has been lowered to 0.6320 to reduce the risk on this trade
• AUD/USD Trader . Previous update
Daily Chart:
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters
