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Farooq

Technical Analysis – AUDUSD _ 12-02-2019

HomeTechnical AnalysisTechnical Analysis – AUDUSD _ 12-02-2019
12
Feb
Technical Analysis – AUDUSD _ 12-02-2019

The pair is hovering around the first target of the bearish scenario at 0.7075 since the opening of this week’s trading … The possible bearish scenario remains intact as long as the pair remains below 0.7170 and could target its second target around 0.7020 support and then the 61.8% Fibonacci retracement of the recent bullish wave around 0.6960 as the third target .

A breach of 0.7170 may weaken the probability of a downside and it is best to remain neutral after that until the direction is determined.


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