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Farooq

Technical Analysis – AUDUSD _ 25-02-2019

HomeTechnical AnalysisTechnical Analysis – AUDUSD _ 25-02-2019
25
Feb
Technical Analysis – AUDUSD _ 25-02-2019

Trades are still limited in a sideways direction between support 0.7075 and resistance 0.7170 – 0.7175 … It is better to remain neutral until the price is out of this area 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 0.7175 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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