Can AUD/USD go for Fibonacci retracement?
Technically, the AUD/USD is still stuck in the narrow trading range of $0.7270 - $0.7285. On the 4- hour chart, the commodity currency is trading in the oversold zone which is signifying a potential for a bullish retracement. Aussie is very likely to go after 23.6% Fibonacci retracement level of 0.7300, and 38.2% Fibbo level of 0.7335 today.