AUDUSD bounces from 0.618 support at 0.7140

18 de set. de 2018

The AUDUSD rallied from 0.7140 levels as expected yesterday, which is the fibonacci 0.618 support of the previous rally, labelled as Wave A or 1 on the chart. If this wave structure holds for now, we could expect a continued rally through 0.7370 levels from here as potential Wave 3 or C unfolds. On the other hand if a more complex correction occurs, we could see prices turning lower and testing 0.7140 levels again before resuming rally. In general, AUDUSD could remain a potential buy until prices stay above 0.7080 levels going forward and a safe trading strategy could be to add on dips towards 0.7140 levels again.


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