AUD/USD – Another Trip To the Bottom

Bearish: We are currently @ 0.6683 after the breakout of the slope support. We are in a range. We are looking for a continuation to the ATR target @ 0.6590 with a further target @ the 1.000 Fibo @ 0.6514. We have convergence in play for the move. Watch the USDX for direction. The average daily true range (ATR) for the pair is 81 pips and it’s 180 day average is 87 pips per day. USDX is currently moving sideways with an upside bias.

Posted to Introduction to Forex Targe… on Mar 22, 2023 — 8:03 AM
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