Downward movement can reach the level of 0.7600

At the moment the price is near the intersection of the level and Fibonacci arc for the short-term uptrend at the level of 0.7745 (level 38.2%, arc 38.2%). Breakdown of the arc will enable the rise to 0.7777 and 0.7832. In the medium-term the price will rebound from Fibonacci arc of 23.6% and go to the correction level of 0.0% at the level of 0.7600. Another breakdown of the arc 23.6% can boost the rise up to the level of 0.8010.

Trading tips

Sell the pair after breakdown and consolidation of the price below the level of 0.7715 with the targets of 0.7688 and 0.7600.

Alternative scenario

Breakdown of the level of 0.7745 will enable the rise to 0.7777, 0.7832 and 0.8010.

AUD/USD: Fibonacci levels analysis

AUD/USD: Fibonacci levels analysis

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