AUDUSD has been on a downtrend since January this year, But daily charts now show a reversal which is confirmed by moving average 50 and momentum 23 indicators. Fib retracements gives expected levels and a parallel climb gives expected Aud USD value on 1st October 2018.

Target 1: 0.7465
Target 2: 0. 7600( though expected price as per chart is higher but FIB 261 hits at 7600) just in case there is reversal here
Stop loss: 0.7200

The upward trend is confirmed by the weekly chart which has hit yet another bottom

Happy trading.
Translate to English Show original