Technical Analysis AUD/USD January 11th 2018
The AUDUSD pair it is finding a resistance level at 0.78894 that matches with a 0.618 Fibonacci level, if the price breaks above this level, it is a good opportunity to buy, expecting to find the next supply zone at 0.80452.
If the price rebounds below the resistance, we can sell short, with our target at the fibonacci level 0.382 at 0.77450 (previous support level), at this level my recommendation is to wait until the price confirm the downtrend, with our next target at the demand zone at 0.76801 that matches with a 0.236 Fibonacci level.
If the price rebounds below the resistance, we can sell short, with our target at the fibonacci level 0.382 at 0.77450 (previous support level), at this level my recommendation is to wait until the price confirm the downtrend, with our next target at the demand zone at 0.76801 that matches with a 0.236 Fibonacci level.