AUSUSD (Y20.P4.E1).Short term TA.

Hi All,

Looking at the Aussie dollar against the USD, we can see on the daily that we have downward pressure along with the bearish divergence playing out.

I have 2 levels as a point of interest.
The 0.5 fib retracement and 0.618 fib as one can see that this has confluence with the wedge breakout target, and along with the daily EMA levels.

USD (DXY) is currently going sideways and potentially breaking the near resistance as the chart below.

This is no surprise as the stock markets and asia markets \ Aussie stock market dropped a few % yesterday.

Lets see how things are in the coming days and weeks turn out.


Cheers,
S.SAri.

MACRO structure


USD index