empty
 
 

27.01.202222:17 Forex Analysis & Reviews: Technical analysis of AUD/USD for January 27, 2022

Exchange Rates 27.01.2022 analysis

Overview:

The AUD/USD pair will is moving downwards from the level of 0.7155 (this level - 0.7155 - coincides with the 50% of Fibonacci retracement levels on H4 chart).

Accordingly, the Aussie is going to show signs of weakness at the last bullish wave around the spot of 0.7155.

Thus, it will be a good deal to sell below the level of 50% of Fibonacci retracement levels on H4 chart with the first target at 0.6994 and further at 0.6958.

Equally important, 0.6958 will be acting as a strong support so it is going to be a good place to take profit.

On the other hand, in case a reflection takes place and the AUD/USD pair is not able to break through the support at the 0.694level, the market will further rise to 0.7192 in order to indicate a bullish.

It also should be noted that this level of taking profit will coincide with around 61.8% of Fibonacci Fibonacci retracement levels.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Mourad El Keddani,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

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