Technical analysis of AUD/USD 04/23/2020

The AUD/USD currency pair is in an upward correction as part of a downtrend on the daily chart. Currently, the price is consolidating in the 0.6400 – 0.6450 area(61.8% Fibo). The technical situation gives reason to assume the end of the upward correction at current levels and the beginning of the development of a new downtrend wave with the potential to decline to March lows in the area of 0.5500. If quotes are fixed above 0.6450 (the intersection of the trend line and 61.8% Fibo), this will mean that the correction turned into a trend with a potential growth target to January maximums in the 0.7000 area.


Created by Joshua Hayn

VN:F [1.9.22_1171]
Rating: 5.0/5 (1 vote cast)
5.0 out of 5 based on 1 rating

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>