The Aussie Dollar stepped on 0.628846 and found major support to trade high towards 0.63947 which is the 61.8 fibo retracement of its previous leg. This 0.63947 has potential to be the next resistance zone which the price is aiming for. From there, the fundamental news shall determine whether the market will break the resistance or continue its downtrend in the long term.
Trade closed: target reached:
0.63947 Target Profit has been hit. Trade closed. The resistance level held, 61.8 fibo retracement confirmed. Price continues the downtrend.