Slobodan Drvenica
Windsor Brokers
AUDUSD
Three-day pullback cracked 0.7700 support (Fibo 38.2% of 0.7490/0.7833) and entered near-term consolidation around 0.7700 handle. Pullback is seen as correction of larger uptrend, with daily 20SMA at 0.7660, expected to contain pullback, before bulls resume.
However, bullish weekly candle with long upper shadow may signal extended consolidation, before final attack at key short-term resistance at 0.7850 (daily Ichimoku cloud base). Higher base at 0.7620 (also Fib 61.8% of 0.7490/0.7833 upleg), marks strong support, guarding breakpoint at 0.7490 (daily higher base).
Res: 0.7724; 0.7772; 0.7833; 0.7850
Sup: 0.7689; 0.7660; 0.7620; 0.7570
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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