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Technical Analysis – AUDUSD _ 21-02-2019

HomeTechnical AnalysisTechnical Analysis – AUDUSD _ 21-02-2019
21
Feb
Technical Analysis – AUDUSD _ 21-02-2019

The pair was unable to breach the 0.7170 level to retreat strongly during morning trading, breaching the bullish formation shown on the chart and approaching 0.7075 support …

It is preferable to remain neutral until the price is cleared from the specified area on the chart to confirm its direction …

A breach of 0.7075 could push the price to target support at 0.7020 as the first target and then the 61.8% Fibonacci level of the last rising wave around 0.6960 as the second target at least.

A return to the upside and a breach of 0.7170 could push the price to target the next resistance around 0.7230 as the first target and then 0.7290 as the second target.

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