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.

Ross J Burland FXStreet

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.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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