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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 profit target reached perfectly, remain bearish for a further drop

The price has dropped perfectly and reached our profit target. We remain bearish looking to sell below 0.7894 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7854 support (Fibonacci extension, horizontal swing low support).

RSI (55) sees a descending resistance line holding our bearish momentum really nicely.

Sell below 0.7894. Stop loss is at 0.7921. Take profit is at 0.7854.

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