AUD/USD finding dynamic resistance

AUD/USD finding dynamic resistance

AUD/USD is off from March 30th highs following a strong dynamic resistance found in the 200 SMA at H1 chart. Such area act as a strong barrier for buyers, as it coincides with the Fibonacci level of 50% at 0.7699. After that move, Aussie scopes to break below 0.7642 in order to reach the Fibonacci zone of -23.6% at 0.7614, which should strengthen the bearish bias across the board. However, if the 0.7716 level gives up, the next target would be the 0.7756 level.

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

AUDUSDH1.png

Similar

Popular

Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera