BabyPips.com FX-Men Team
BabyPips.com
AUD/USD: 1-hour
We’re kicking off the day with this pullback setup! After falling to the .7050 area, AUD/USD has trudged higher and is now about to hit the .7200 psychological levels. Forex bulls better be on their toes though, because the 200 SMA and 61.8% Fibs are threatening the Aussie’s advance. The SMA has been holding since mid-October so there’s a good chance that the bears are also waiting at the level. If you’re one of them bulls though, then you can also wait for a break above the resistance areas and wait for an uptrend to emerge.
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