AUDUSD Continued Upside

Jonathan Kibbler, January 2nd, 2018

AUDUSD bounced perfectly of the 0.7500 level as expected. Price continues to move higher and is approaching the next weekly resistance level . The moving averages have crossed now and expect continued upside as the weekly trend seems to be starting. Ideally we would like to see a pullback into the support zone and 61.8 Fibonacci before looking for long opportunities however we may see price test the weekly resistance first with a shallower retracement.

Jonathan Kibbler

About the author: Head currency trader at Colmore FX. Jonathan has been professionally trained by two hedge fund managers in London and has grown a strong passion for financial markets. His trading strategy combines Daily, 4HR and 1HR charts with top down analysis to generate trading ideas.

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