Chart of the day: AUD/USD
|AUD/USD nearing golden Fibonacci retracement target
The AUD/USD is closing above the 200dma today for the first time since November of last year. And this development as the pair is near the highs of the day should allow for further gains in the days ahead.
The first target is the 127% extension of the quick drop (Liberation Day early April) which is at the .6524 level. Above there, the next resistance is at .6557, which is the 61.8% Fibonacci retracement of the September 2024 high to April 2025 low. Once there, we'd expect sellers to step into the market.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.