AUD/USD remains depressed for the second consecutive day, refreshing intraday low near 0.6730 amid the early European session on Wednesday. In doing so, the Aussie pair reveres Reserve Bank of Australia (RBA) Governor Philip Lowe induced corrective bounce while poking the 200-bar Exponential Moving Average (EMA).
It’s worth noting that the quote’s U-turn from the aforementioned channel’s top line joins bearish MACD signals to favor the latest pullback in the AUD/USD price.
As a result, the Aussie bears are well-set to conquer the stated key EMA support of 0.6730 and aim for the 0.6700 round figure.
However, a convergence of the ascending trend channel’s lower line and 23.6% Fibonacci retracement level of the pair’s downturn from mid-February to March 10, around 0.6670, appear a tough nut to crack for the bears.
In a case where the AUD/USD drops below 0.6670, the odds of witnessing a fall towards targeting the YTD low, currently around 0.6565, can’t be ruled out.
On the contrary, recovery moves can aim for the aforementioned channel’s top line and 50% Fibonacci retracement, around 0.6800.
Following that, 0.6810 and 61.8% Fibonacci retracement of 0.6852 may act as intermediate halts during the run-up targeting February’s peak of 0.7030.
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
더 오래된 의견은 없습니다. 소파를 가장 먼저 잡으십시오.