Longs from the 0.7586 region possible - strong confluence here!
With the US dollar advancing across the board yesterday the AUD/USD tumbled lower, bottoming just ahead of the 0.76 psychological barrier. In view of this, we’re currently drawn to the 0.7577/0.76 H4 support area today. Supporting a bounce from this zone we have the following converging structures:
• A H4 AB=CD 127.2% ext. at 0.7586.
• A H4 61.8% Fib support at 0.7582.
• February’s opening level at 0.7577.
• Round number 0.76.
• We also have the top edge of a daily support area at 0.7581 bolstering the above noted H4 support zone.
Our suggestions: Based on the above confluence, we feel a long from the 0.7586 mark is feasible. To be on the safe side, stops may want to be placed beyond the H4 161.8% ext. at 0.7560 (0.7558).
Data points to consider: There are no scheduled high-impacting news events on the docket today relating to these two markets.
• A H4 AB=CD 127.2% ext. at 0.7586.
• A H4 61.8% Fib support at 0.7582.
• February’s opening level at 0.7577.
• Round number 0.76.
• We also have the top edge of a daily support area at 0.7581 bolstering the above noted H4 support zone.
Our suggestions: Based on the above confluence, we feel a long from the 0.7586 mark is feasible. To be on the safe side, stops may want to be placed beyond the H4 161.8% ext. at 0.7560 (0.7558).
Data points to consider: There are no scheduled high-impacting news events on the docket today relating to these two markets.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.