HumphreyNR

Possibility of Resuming Upward Trend?

FX:AUDUSD   Australian Dollar/U.S. Dollar
38 0 2
1. Price has retraced to the 0.5 Fib area which also doubles as previous resistance zones.
2. RSI is Oversold
3. RSI Divergence

Due to the downward move over the last 2 weeks, I am looking at price action at this zone to see signs of exhaustion of the bears. Then would consider going long.

A learner of trading, and as such all constructive comments, opinions and ideas are welcome.
Trade with care. Thanks
Comment:
1H Look of the earlier Idea published.
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