Today’s Forex Guide

AUD/USD 4-hour: Testing the resistance level at 50% Fibonacci


Mar.24.2015

3:30 pm (EST) Update

AUD/USD 4-hour Forex Dance Floor
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 Forex Dance Floor
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

 

cpi pmi dollar milk

Back to Top

Learn How to Grow Your Wealth