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29 Mar 2019
AUD/USD Technical Analysis: Bears eye break to 50% Fibo
- Bears are targetting a break below the ascending support the 38.2% Fibo of the 2019 swing low/high range for a run to test 0.7012.
- On a break below 0.6954, 127.20% ext Fibo of the 8th May - 20th May range, there is scope for the 0.6850/78.6% retracement of the flash crash low.
- To the upside, 0.7207 is the end of February high which is in the vicinity of the 200 day sma - a potentially strong level of resistance.
