Ardy

AUDUSD - Chart Analysis on Daily TF

FX:AUDUSD   Australian Dollar / U.S. Dollar
112 1 0
Pair sideways and going along between 0.91 and 0.93. 92.57, the 23.6 Fib level can be expected to be protected by the bears as above that we might see the pair at 0.95.

Stochastics is in the overbought level and there is risk for the bulls here. RSI is trending up but is seen at near its upper trend line level. This can be an indication that the pair might go lower still.

Overall, I am still bearish on this pair but I haven't discount the possibility of further upward retracements.
Bearish moves came and closed the trade with a profit. :)
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