11
Mar
Technical Analysis – AUDUSD _ 11-03-2019
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Trading remains stable below 0.7055 – 0.7075 support area, which was breached during last Wednesday’s trading … The possible bearish scenario remains intact as long as the pair remains below the bearish trend line shown on the 4 hour chart. The targets remain around 61.8% Fibonacci at 0.6960 as the first target, May extend from the downlink to the 0.6840 support test as the second target.
A break of the 4-hour downtrend above 0.7165 might be enough to derail the downside scenario and the pair could then push to target at least 0.7290 resistance.
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