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Farooq

Technical Analysis – AUDUSD _ 21-03-2019

HomeTechnical AnalysisTechnical Analysis – AUDUSD _ 21-03-2019
21
Mar
Technical Analysis – AUDUSD _ 21-03-2019

Yesterday, the pair has breached the descending trend line, which represents the upper limit of the bearish wedge pattern shown on the 4 hour chart, which may be enough to end the downside scenario and activate a bullish scenario with targets around 0.7215 as the first target and resistance at 0.7290 as the second target.
Going back to the downside and breaching the support area 0.7075 – 0.7055 could end the upside potential and could then head to the 61.8% Fibonacci level at 0.6960 at least.


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