AUD/USD is looking down

AUD/USD is looking down

Trade ideas

SELL 0.6790; TP1 0.6770; TP2 0.0.6730; SL 0.6805

The Asian trading session on Thursday wasn’t kind to the AUD: Australia released weak labor figures and investors got worried about the prospects of the trade deal between the United States and China. AUD/USD that has settled below the 100-day MA in the 0.6840 area. The pair is currently testing the 50% Fibo retracement level of the October advance around 0.6800. The loss of this support will lead the price down to 0.6770 (61.8% Fibo) and 0.6725 (78.6% Fibo). Resistance lies at 0.6815 (200-period MA on H4) and 0.6830/40. 

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Similar

AUD/CHF suffered losses

The attempt of AUD/CHF to overcome 0.6800 so far hasn’t been successful. The pair formed a “spinning top” candlestick on the D1 on Tuesday.

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