The AUDUSD currency pair has slipped below 0.7147 levels on Friday rising probabilities to test below 0.7000 levels but bullish divergence on the RSI still remains. At the moment, it is safe to assume a neutral stand rather than aggressively bullish , and keep a close watch on 0.7200 resistance. A break above that level could warrant a bullish reversal. On the other side, a continued push lower from here could see 0.6950 levels coming into play. Please note that is the fibonacci 0.618 extension of waves 1 to 3 drop as depicted on charts and prices could likely reverse from there.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.