AUD/USD Bounce from Fibo Support, Prior Resistance
If looking for USD-weakness to continue through tomorrow's Core PCE report, AUD/USD can remain a viable venue, along with GBP/USD.
The pair had a stark pullback yesterday but support showed at a key Fibonacci level plotted at .6824. That was resistance just last week and, so far, it's substantiated a bounce back up to the .6900 handle. That's also the level that bulls need to hold to retain the trend or else there'll be an oncoming concern of lower-lows and highs.
That's a scenario I'd look to in the event of a USD recovery, which is certainly a possibility ahead of and around tomorrow's Core PCE release. But - if looking for USD-strength, EUR/USD may be a more attractive venue. And, big picture, this speaks to potential for bearish scenarios in EUR/AUD, playing the fundamental divergence between Europe and Australia. - js
The pair had a stark pullback yesterday but support showed at a key Fibonacci level plotted at .6824. That was resistance just last week and, so far, it's substantiated a bounce back up to the .6900 handle. That's also the level that bulls need to hold to retain the trend or else there'll be an oncoming concern of lower-lows and highs.
That's a scenario I'd look to in the event of a USD recovery, which is certainly a possibility ahead of and around tomorrow's Core PCE release. But - if looking for USD-strength, EUR/USD may be a more attractive venue. And, big picture, this speaks to potential for bearish scenarios in EUR/AUD, playing the fundamental divergence between Europe and Australia. - js
פרסומים קשורים
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.