Reason for selling AUDUSD
Fundamental factors are supporting the USD as the recent inflation figure beats the expectation 4.16% which causes the buying of USD against major pairs.
It has reached lower trendline area.Sell AUDUSD when it reaches around the .618 Fibonacci level and primary target would be 1.272 Fibonacci.
Sell limit @ 0.77770
AUDUSD was on clear down trend from last week but today it got a firm support from fibo 50 % and support 61 of weekly pivot. If you see previous chart it has bounced from the same price 3 times in a row before breaking it
in the current scenario if price breaks lower than 50%fibo the firs target be 0.7297 and 0.7214
in alternate situation a bounce above the...