AUD/USD showing bearish signals

AUD/USD showing bearish signals

The price action of the Aussie is getting interesting during the last few hours, as the pair is finding strong resistance in the Fibonacci level of 50% at 0.7829. Currently, it’s consolidating below the 200 SMA at H1 chart and it seems we can expect a lower continuation towards the -23.6% Fibonacci level at 0.7669. To the upside, if it manages to break above the 65% Fibo zone, AUD/USD could target the 78.6% Fibo level at 0.7853.

RSI indicator stays in the negative territory.



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GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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