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AUDUSD consolidates within 0.7550/0.7625 range

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    AUDUSD Two-day pullback from fresh high at 0.7678, found footstep at 0.7550, just above initial support of Fibo 23.6% of 0.7106/0.7678 / rising 10SMA and trading in near-term consolidation range. Near-term studies remain bullishly aligned, however, risk of stronger correction remains in play, as Slow Stochastic of daily chart turned lower, after hitting overbought zone boundary. Violation of 0.7550 could signal deeper pullback and open 0.7460 (Fibo 38.2% of 0.7165/0.7678 upleg, otherwise,

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