AUDUSD rejected at 0.786 retracement, likely resuming downtrend
AUDUSD spiked higher to the 0.786 retracement at 0.6584 and the 100 daily Moving Average only to rejected.
The strength indicator RSI also tested and got rejected at the 60 threshold
A daily close above is necessary for AUDUSD to establish a bullish trend.
AUDUSD seems likely to resume downtrend, and a daily close below 0.6485 could fuel a sell-off down to test support at 0.6360 once again
The strength indicator RSI also tested and got rejected at the 60 threshold
A daily close above is necessary for AUDUSD to establish a bullish trend.
AUDUSD seems likely to resume downtrend, and a daily close below 0.6485 could fuel a sell-off down to test support at 0.6360 once again