Technical outlook and ideas for Forex pairs
We have outlooked several promising Forex pairs and the result can surprise you!
AUD/USD continues the downtrend
Information is not investment advice
AUD/USD formed a lower high within the overall long-term downtrend. The pair is currently supported by the 50% Fibo of the January recovery at 0.7020. This level is all that is left before the pair will slide to the lower levels of 0.6955 and 0.6860 in line with a “Head and Shoulders” pattern.
Positive dynamics will be once again possible if the pair returns above 0.7060, but even then the next resistance will be rather close, at 0.7085.
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