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Sep 01 - 06:55 AM

AUD/USD - Poised For Further Upside After Key Fibo Break

By Richard Pace  —  Sep 01 - 04:39 AM
  • AUD/USD recovery from 20 Aug low 0.7107 broke key Fibo retracement level Tue

  • 0.7319 is 23.6% of 0.8007-.7107 and break opens potential to 38.2% at 0.7450

  • After setback to 0.7304 Tue, AUD has risen to new recovery high 0.7349 Wed

  • Close above that 23.6% Fibo at 0.7319 would reinforce upside potential

  • Daily highs from mid Aug 0.7373-89 and 55-DMA 0.7395 are next resistance

  • Bids touted ahead of support at 21-dma 0.7297



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AUD=D3 Click here

Source:
Refinitiv IFR Research/Market Commentary

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