InstaForex - Analytics

InstaForex

722.50 6.50/10
61% of positive reviews
Real

AUD/USD an intraday look

On the M15 chart, AUD/USD started moving towards lower highs and lower lows signaling for an active downtrend. On June 16, the pair broke below the support at 0.7720 that was followed by the descending channel breakout to the downside.

The Fibonacci applied to the channel breakout point shows that 38.2% level S1 (0.7681) was also broken, that can be interpreted as a high probability that the rate will continue moving lower.

The nearest resistance is expected at the channel breakout point that is 50% level R1 (0.7698). Consider selling AUD/USD on a pullback, near 0.77 (R1), targeting 0% area that is near 0.7628 (S3). Only a break above the key resistance R2 (0.7715) would invalidate this scenario.

Support: 0.7681, 0.7661, 0.7628

Resistance: 0.7698, 0.7715

audusd-m15-instaforex-group.png

Show full picture


To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree