Technical analysis of AUD/USD 01/10/2023

The AUD/USD currency pair on (1D) managed to gain a foothold above 0.6900 (50% Fibo).

The pair broke through the upper limit of the descending channel (MA200) and found resistance at 0.6950.

The technical picture suggests the development of an upward correction with a target in the area of 0.7060 (61.8% Fibo).

Support is the level zone 0.6900.

AUDUSD_STPDaily

Created by Joshua Hayn

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