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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/USD almost reached its profit target, turn bearish

Price bounced off our buying level perfectly and has almost reached our profit target. We turn bearish because of the new elements. Look to sell below 0.7677 resistance (descending resistance, Fibonacci projection) for a push down to 0.7615.

RSI (34) has made a bearish pullback and remains below 70% resistance.

Sell below 0.7677. Set stop loss at 0.7705 and take profit at 0.7615.

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The material has been provided by InstaForex Company - www.instaforex.com