AUD/USD Price Analysis: Bulls take charge in Tokyo


  • AUD/USD bulls in charge and look to fuller correction to the 38.2% Fibo.
  • Hourly chart seeing price underway already. 

AUD/USD has started to extend the onward impulse from a 38.2% Fibonacci correction and prior resistance down in the 0.7540/50 territory. 

Bulls are on the verge of a fresh high in Tokyo and have the daily 38.2% Fibo in their sights.

Daily chart

The 38.2% Fibo on the daily chart is located around old lows seen in March near 0.7580.

Hourly chart

Bulls are taking charge and seek an extension following the correction to the aforementioned 38.2% Fibo.

 

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