AUD/USD Price Analysis: Bears are moving in and eye a run to 0.72 the figure By ross_burland AUDUSD Technical Analysis
Bears will note the confluence of the 38.2% and 61.8% Fibonacci levels. , the price is under pressure and the bears are on the verge of a break of key support.has moved in on the old resistance and a break there opens risk to the 38.2% Fibonacci and the neckline of the W-formation near 0.7250:
Of course, this all depends on the direction of the greenback. Currently, it is on the back foot, but there are prospects of a correction and that could be enough to set off the Aussie bears: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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