The
Australian Dollar keeps dropping versus the US Dollar and it is getting closer
to the 0.7600 level. Actually, just a little bit above that level, we can see
that the pair would have retraced 100% of its last run up and it will also
indicate a complete parabolic retracement. It is important to pay attention to
that possible visit of the 0.7600, because the level could have the price stall
there or even probably bounce back up. On the other hand, a breakdown of that
area could accelerate the bearish momentum due to the fact that the zone has
been a very important support level in the past.
I think it might even reach 0.7550.
ReplyDeleteGreat analysis, thank you.
ReplyDeleteGood analysis.
ReplyDeleteGreat assessment. I'll keep a close eye on it.
ReplyDeleteGood question. I´ll be carefull
ReplyDeleteVery useful information! Thanks.
ReplyDeleteI will keep eye on it.
ReplyDeleteHrmm... Very important post.
ReplyDeleteGreat post.
ReplyDelete