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AUDUSD Techs: the perfect retracement?
Yesterday and overnight, we’ve seen as near a “perfect retracement” in AUDUSD as the pair topped out where a number of technical indicators converge. The line of resistance in the sand is clear. AUDUSD , along with most assets positively correlated with risk, corrected sharply higher in recent days. Yesterday and overnight, we saw AUDUSD – one of the more consistent risk barometers among G10 pairs, topping out at a very interesting area just short of 1.0100. This area sees the convergence of the 55-day moving average, the 0.382 Fibo retracement level of the wave from the 1.0750+ top and, as if that wasn’t ... (full story)
