AUD/USD: headed back to the 61.8% retracement level of 0.8135? - BBH
|Analysts at Brown Brothers Harriman explained that the Australian dollar's advance brought it near the 61.8% retracement of the decline of the since late January's high near $0.8135.
Key Quotes:
"After approaching the retracement objective near $0.7990, the Aussie reversed course and returned toward $0.7900.
The Slow Stochastic has turned up and the MACDs are about to cross higher.
The RSI flattened out in response to the Aussie's pullback.
There is a band of support in the $0.7855-$0.7880 area, which if penetrated of a retest the recent low near a cent lower."
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