AUD/USD Is Supported at Daily Historical Levels and Needs a Retracement

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The AUD/USD has dropped to historical support levels zone 0.6890-0.6903. It needs a healthy retracement to the upside.

0.6880 is the last chance for any bullish retracement on intraday timeframes. Unless it gets broken to the downside, bulls might try to get the price to the POC zone 0.6930-40 and 0.6660 if the bullish momentum persists and short traders close their trades. The interim range is 0.6890-0.6840. The price might reject from 0.6840 towards 0.6890 again if we see a retracement. If 0.6660 is reached then we might see a trend reversal and uptrend will start.

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

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