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INFINOX_Capital
Oct 14, 2019 12:46 PM

AUDUSD - The corrective wave Long

AUSTRALIAN DOLLAR / U.S. DOLLARICE

Description

AUDUSD (4H) - short term bullish bias

The aussie found strength to push back after five attempts at the 0.6680 support zone. It seems buyers have regained control for now. The first upside impulse was met with more buying interests at the 61.8% (0.6710) Fibonacci retracement level. What is happening now could be the fourth corrective wave and we can expect the area around 0.6730 and the lower band of the rising channel to offer support.

Key support: 0.6730
Key resistance: 0.6800
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