AUD/USD 88.6 Zone Could be Good for Sellers

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The AUD/USD has come very close to the 88.6 POC zone. We could have seen a strong upward move which is actually a retracement.

W H4 / 88.6 fib + D H4 is the POC zone where we might be seeing a u-turn. 0.7200-10 could reject the price down. Watch for reversal candlestick confirmation in the zone. Ideally the price should stay below D H5 camarilla 0.7238. Targets are 0.7140 and 0.7120. Only if the price makes a clear break above the D H5 we will see a deeper retracement towards 0.7350.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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