18
Feb
Technical Analysis – AUDUSD _ 18-02-2019
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The pair rose today, breaking the resistance zone 0.7120 – 0.7145, which may be sufficient to end the downside scenario which achieved its first target at 0.7075 …
It is preferable to stay neutral until the price quite from the area specified on the chart to determine its direction … A breach of 0.7170 could push the pair to test 0.7230 as the first target and then 0.7290 as the second target.
A rebound below 0.7075 could reverse the downside scenario to be the potential targets around 0.7020 as the first target and then the 61.8% Fibonacci retracement of the recent bullish wave around 0.6960 as the second target.
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