AUD/USD Price Analysis: Bears seeking downside break into Jobs data
|- AUD/USD meets daily resistance and the focus is on the downside.
- Bears can target a confluence of structure and Fibo area.
AUD/USD is on the verge of a significant downside correction as the price meets daily resistance.
Bears can target the prior resistance structure which has a confluence with the 38.2% Fibonacci retracement level of the daily impulse.
Daily chart
The daily chart shows the confluence of the 38.2% Fibo and prior resistance.
30-min chart
The 30-min chart shows meanwhile support that traders will be eyeing for a break, retest and subsequent downside correction to prior daily resistance.
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.