AUD/USD: waiting for the bears at 0.78

AUD/USD: waiting for the bears at 0.78

AUD/USD has been in a recovery mode since October 6th and now it looks like that a offer zone could be tested in coming hours. Such area lies between the 0.7802 and 0.7824 levels and we can expect a pull back around it in order to shift the focus towards the -23.6% at 0.7698. To the upside, if the Aussie manages to break above 0.7824, then we might expect an advance towards October 4th highs at 0.7873.

RSI indicator remains in the positive territory.

AUDUSDmH1.png

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