At the current moment the Aussie Dollar is presenting us with two conflicting scenarios.
Bearish Scenario: After reversing off of the .382 Fib retracement, price may continue downward breaking the .6985 level of support.
If this bearish trend continues, I expect price to find support near the 1.272 extension of the bearish impulse leg--a level with strong confluence with Jan 1, 2019 historical structure.
Bullish Scenario: After reversing off of the .382 Fib retracement, price has found support at the .6985 level.
With clear RSI Divergence, this level of support can hold and a double bottom may be formed.
In this case, I will target the .382 retracement once again, with a secondary target at the .5 retracement.
Bearish Scenario: After reversing off of the .382 Fib retracement, price may continue downward breaking the .6985 level of support.
If this bearish trend continues, I expect price to find support near the 1.272 extension of the bearish impulse leg--a level with strong confluence with Jan 1, 2019 historical structure.
Bullish Scenario: After reversing off of the .382 Fib retracement, price has found support at the .6985 level.
With clear RSI Divergence, this level of support can hold and a double bottom may be formed.
In this case, I will target the .382 retracement once again, with a secondary target at the .5 retracement.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.