12 Mar 2019
AUD/USD Technical Analysis: Bias remains bearish below 38.2% Fibo at 0.7256
- AUD/USD dropped out of a rising channel, capped at the 0.7200 highs and tanking at 0.7180.
- AUD/USD finds support below the daily cloud but is resisted by the clouds Span B and the confluence with the pivot.
- 0.7030 gave out which is worrisome for the bulls that target a break of 0.7080 and 0.7106.
- Bulls need to get above the 38.2% Fibo at 0.7256 or face pressures back to 0.68 the figure and especially if the price drops below the horizontal support line est. on 11th Feb swing lows at 0.7053.
- Weekly S2 is located at 0.6986 and S3 at 0.6903 meeting 22 Aug 2015.
