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AUDUSD Technical Analysis

On the daily chart below for the AUDUSD, we can see that the price has failed again to break above the 0.6781 resistance where we have also the 38.2% Fibonacci retracement level. The last failure came as the US Retail Sales missed expectations across the board giving the market recessionary vibes and sending the price lower. This double failure may turn into a double top within a correction, which is a nice bearish setup for the sellers. Last Friday’s US PMIs beat forecasts but failed to lift th... Read More

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Audusd

Technical

Analysis

Forex

Posted: Apr 25 2023, 10:34

Author Name: forexlive

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