3:30 pm (EST) Updated
AUD/USD 4-hour: Moving below the Ichimoku’s cloud.
Invest Diva positioning: Short positions below 0.7725 with targets at 0.7647 and 0.7457 in extension.
Technical reasons why: The pair is consolidating below the pivot level at 0.7725 below the Ichimoku’s cloud. The RSI is also below the neutrality area.
Alternative Scenario: Above 0.7725 look for further upside with 0.7725 and 0.7877.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7648 | 0.7725 | 0.7877 |
| 0.7457 | 0.7790 |
NZD/USD 4-hour: Reached the 23% Fibonacci level target.
Invest Diva positioning: Long positions above 0.7343 with targets at 0.7447 and 0.7532 in extension.
Technical reasons why: The pair reached the 23% Fibonacci level target and is rebounding from the level below the Ichimoku’s cloud. The RSI is heading up from the over-sold zone.
Alternative Scenario: Below 0.7343 look for further downside with 0.7175 and 0.6970.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7175 | 0.7343 | 0.7532 |
| 0.6970 | 0.7447 |
