The USD started the day dropping against the Canadian dollar, now on a bullish reversal.
AUD/USD targeting levels below 0.7600 in the short-term
AUD/USD was smashed near the Fibonacci level of 61.8% at 0.7811, as the sellers regained the control of the situation following a recovery held from the March’s lows. There is an ongoing attempt to make a bearish crossover of moving averages at H4 chart that could strengthen the bearish bias and the Aussie could be on its way to reach the 0.7577 level, where is located the Fibonacci zone of -23.6% at 0.7577.
RSI indicator is hovering in the oversold territory, calling for a rebound when it tests the 0.7642 level.
Today, the CHF has risen up to the strong resistance level. A bounce back is a very probable scenario.
Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential
It looks like GBP/JPY is finally trying to break out of the recent consolidation. Learn more!
Last week XAU/USD recovered 38.2% of the November decline. However, the advance of gold was limited by the declining 50-period MA on the H4.
GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.