AUD/USD targets 0.7744 after a rebound

AUD/USD targets 0.7744 after a rebound

Aussie has started to correct the rally from July 28th and it's now heading to test the demand zone established between 0.7644 and 0.7623 levels. Around that zone, we might expect a big rebound to take place, targeting the short-term level of 0.7744, which corresponds to the -23.6% Fibonacci retracement level from such area mentioned above. To invalidate this scenario, AUD/USD should break below 0.7605 and the 200 SMA at H1 chart, which should open the doors to test the 0.7576 level.

RSI indicator is pointing to the upside, favoring the bullish bias in the pair.

AUDUSDH1.png

Similar

Popular

Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

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