empty
 
 
23.01.2018 06:40 AM
AUD/USD continues to test major resistance, remain bearish

The price continues to test major resistance at 0.8018 (Fibonacci retracement, Fibonacci extension, bearish divergence) and we expect a drop from this level to push the price down to at least 0.7817 support (Fibonacci retracement, horizontal swing low support).

RSI (34) sees ascending support as more intermediate support and only a break of this level would trigger a very bearish move. We can also see bearish divergence vs price signaling that a reversal is impending.

Sell below 0.8018. Stop loss at 0.8116. Take profit at 0.7817.

This image is no longer relevant

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback