The Australian Dollar has rallied greater than 3% in opposition to the US Dollar off the month-to-month lows with the a three-wee
The Australian Dollar has rallied greater than 3% in opposition to the US Dollar off the month-to-month lows with the a three-week advance now focusing on confluence resistance on the higher bounds of a multi-month vary in worth. It’s make-or-break right here for the bulls. These are the up to date targets and invalidation ranges that matter on the AUD/USD charts this week. Review this week’s Strategy Webinar for an in-depth breakdown of this oil worth setup and extra.
New to Forex Buying and selling? Get began with this Free Beginners Guide
Australian Greenback Worth Chart – AUD/USD Day by day
Chart Ready by Michael Boutros, Technical Strategist; AUD/USD on Tradingview
Notes: In my final Australian Dollar Weekly Price Outlook we famous that, “Aussie might want to stabilize into the beginning of October commerce IF the September advance is to stay viable. From a buying and selling standpoint, be looking out for an exhaustion low early subsequent month with a breach above the June 2018 trendline wanted to counsel a extra important low was registered in Q2.” AUD/USD rebounded off the August lows into the October open with the rebound now focusing on resistance on the 2018 trendline / September highs at 6895.
This degree is backed carefully by the 61.8% retracement of the July decline at 6927– we’ll require a breach / shut above this threshold to validate a bigger reversal in worth…