The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
AUD/USD showing bearish signals
2019-11-11 • Updated
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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