After a weakening AUD and a reaction with a fibonacci retracement and price action resistance at 87.60 and 86.25, AJ has fallen slightly. This could be a temporary retracement or a market reversal, however it is too early to tell because the market is closed at the moment.
Price is sitting right on top of a fib level, and a somewhat psychological resistance because it is very close to 84.00.
A bullish daily candle indicates a rise to 86.00, and a bearish daily candle that breaks through 84.00 would indicate a short to the zone near 81.50.
Next week this would be a solid trade.
Price is sitting right on top of a fib level, and a somewhat psychological resistance because it is very close to 84.00.
A bullish daily candle indicates a rise to 86.00, and a bearish daily candle that breaks through 84.00 would indicate a short to the zone near 81.50.
Next week this would be a solid trade.