AUDUSD broke out of its descending resistance line!

18 באפר׳ 2018

AUDUSD broke out of its descending resistance line where it could potentially bounce on weakness at 0.7746 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where prices could rise all the way up to its resistance at 0.7845 (76.4% Fibonacci retracement, 100% Fibonacci extension, 61.8% Fibonacci extension). We have also identified another support at 0.7704 (61.8% Fibonacci retracement).
RSI (89) shows a corresponding break out where we expect to see a similar drop.