We are currently sitting on a very important level for this particular pair hence why I decided to share this.
The AUD seems to have gotten stronger over the past few days and so I'll be looking to price in its strength. With Friday session closing just at June lows which previously served as support, I expect that level to form a significant resistance level. Bearing that in mind, what I am waiting for is a retracement to the 61.8% fib level which is sitting nicely on previous resistance levels. I will be looking to go long on this pair provided all my rules are met.
As always I'll let my chart do the talking.
The AUD seems to have gotten stronger over the past few days and so I'll be looking to price in its strength. With Friday session closing just at June lows which previously served as support, I expect that level to form a significant resistance level. Bearing that in mind, what I am waiting for is a retracement to the 61.8% fib level which is sitting nicely on previous resistance levels. I will be looking to go long on this pair provided all my rules are met.
As always I'll let my chart do the talking.