Dmitriy Gurkovskiy | Oct 22, 2020 11:42
AUD/USD
As we can see in the H4 chart, the correctional downtrend in AUD/USD hasn’t reached 23.6% fibo at 0.6962 after a divergence on MACD. At the moment, there are signs in favor of new consolidation. Right now, both scenarios (bullish – a growth towards the high at 0.7414, and bearish – further decline to reach 23.6% and 38.2% fibo at 0.6962 and 0.6685 respectively) are equally possible. In the case of the first scenario, the instrument may break the high at 0.7414 and then reach the long-term 76.0% fibo at 0.7504.
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