Price at Fib level 0.5.
Monthly candle showing bullish signs with a pullback from near a support level of 77.664 back up to 80.270.
80.000 will be a psychological level, being a whole number, will look to enter a long position for a move up towards 83.000 and if rally continues a break towards 86.000 where the 0.382 Fib level is.
Note: RBA cut interest rates last...
Indecision forming at current levels.
Although trend is bullish, price above 200 and 50 ema, there has been a struggle at current levels for the past week.
Could see a move downwards to 1.52000 area and price would then come back up to test level and have a chance of breaking through.
Will be monitoring closely to see what develops.
Bearish trend, price under 200 and 50 ema.
Indecision formed at current level, price struggling to break through the 108 area, has been around this area for four days.
Looking for a bounce from current area and move down towards 106 area.
Will be monitoring closely for entry.