AUD/USD close to a buy opportunity

AUD/USD close to a buy opportunity

2019-11-11 • Updated

AUD/USD is approaching a key demand zone between the 0.7813 and 0.7789 level, established by our Fibonacci’s projections at the H1 chart. While the level of 0.7789 remains untouched, we might expect more rallies in the Aussie, putting on its way to reach the -23.6% Fibonacci level at 0.7934. To the downside, if the 65% Fibo ara gives up, another leg lower towards the 0.7767 level is expected to happen.

RSI indicator is in the negative territory, favoring to the bears in the short-term.

AUDUSDmH1.png

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