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AUD/USD Look For Test Of First Resistance At 9150/55

ByCommodityOnline
Published 11/28/2013, 05:57 AM
Updated 05/14/2017, 06:45 AM

AUDUSD continued lower as expected to our target & Fibonacci support at 9065. A low for the day was expected & we bottomed almost exactly here at 9061 as predicted.

We are oversold & this should now signal an end to the one month sell off. Today we look for a test of first resistance at 9150/55 which could hold the move. However a break higher cannot be ruled out & could target 9210/20 for a short term selling opportunity.
AUDUSD
A return to support at 9065/60 offer a second buying opportunity & a low for the day expected. However a break lower in this bear trend cannot be completely ruled out. Longs need stops therefore below 9036.

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