AUD/USD gives back the advance from the start of the week to approach the monthly low (94.91), and a move/close below the 95.10 (38.2% Fibonacci extension) to 95.20 (23.6% Fibonacci extension) region may lead to a test of the July low (93.97).
Next area of interest comes in around 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension), but the decline in AUD/JPY may turn out to be temporary should it defend the rebound from the monthly low (94.91).
Need a move above the monthly high (97.07) to bring the July high (97.43) on the radar, with the next area of interest coming in around 97.90 (23.6% Fibonacci extension) to 98.30 (38.2% Fibonacci retracement).
--- Written by David Song, Senior Strategist at FOREX.com
Next area of interest comes in around 92.80 (50% Fibonacci extension) to 93.30 (23.6% Fibonacci extension), but the decline in AUD/JPY may turn out to be temporary should it defend the rebound from the monthly low (94.91).
Need a move above the monthly high (97.07) to bring the July high (97.43) on the radar, with the next area of interest coming in around 97.90 (23.6% Fibonacci extension) to 98.30 (38.2% Fibonacci retracement).
--- Written by David Song, Senior Strategist at FOREX.com
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.