rfxsignals July 25, 2019 No Comments
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The 61.8% retracement is rest point now and next downside target

The AUDUSD moved below the 100 hour MA, 200 hour MA and 100 day MA yesterday. That shiifted the bias more to the downside. The 50% midpoint stalled the fall at 0.69958

The 61.8% retracement is rest point now and next downside target

Today, that 50% level (was also the low from July 17 – see post from yesterday)  was broken and it opened the door for more downside wander. The 61.8% at 0.69756 was breached on a single bar, but failed. The price has been able to stay above since then. Traders will be looking for a break to continue to progression lower. Holding keeps the dip buyers in the game.  

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