Fundamental Analysis: We have RBA Gov Lowe Speaks which more likely than not is hawkish for this pair so im expecting for a somewhat good push and while im writing this at 4pm pst it is pushing down now: however im expecting a push for the downside next 6-14 hours or staying negative percentage of gain in the aud/usd pair
Technical analysis: we have a break of structure which i highlighted with a purple Ellipse and with that means new structure on the 1h however 4h is still providing a bullish bias so be careful on where you set your targets for this option i would say play it safe at either the .400 mark which is lime green or at the .200 mark with that being said fibonacci played nicely off the 78.6 which is a slow and moderate push Price reversal zone and we had confirmation with market structure with the rsi divergence and VC Showing seller exhaustion
Technical analysis: we have a break of structure which i highlighted with a purple Ellipse and with that means new structure on the 1h however 4h is still providing a bullish bias so be careful on where you set your targets for this option i would say play it safe at either the .400 mark which is lime green or at the .200 mark with that being said fibonacci played nicely off the 78.6 which is a slow and moderate push Price reversal zone and we had confirmation with market structure with the rsi divergence and VC Showing seller exhaustion
Trade closed: target reached