AUD/USD 4-hour: Testing the resistance level at 50% Fibonacci.
Invest Diva positioning: Long positions above 0.7904 with targets at 0.7985 and 0.8086 in extension.
Technical reasons why: The pair is testing the resistance level at the 50% Fibonacci level above the Ichimoku’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 0.7904 look for further downside with 0.7823 and 0.7722.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7823 | 0.7904 | 0.8086 |
| 0.7222 | 0.7985 |
NZD/USD 4-hour: Moving up.
Invest Diva positioning: Long positions above 0.7617 with targets at 0.7721 and 0.7889 in extension.
Technical reasons why: The pair continues to move up as breaking above the key resistance level at the 61% Fibonacci level at 0.7617 above the Ichimoku’s cloud. The RSI is above the neutrality area.
Alternative Scenario: Below 0.7617 look for further downside with 0.7533 and 0.7450.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7533 | 0.7617 | 0.7889 |
| 0.7450 | 0.7721 |
#1 Best Selling Author. Helping you accelerate your retirement with Triple Compounding™ Former engineer on a mission to help 1 million households take control of their finances. Founder & CEO of Invest Diva.
