Monday, September 26, 2016

Audusd: Can turn all bearish if 0.76 gives way

The wave (ii) was really very sharp as it was also empowered by the FOMC statement which meant that price broke above 61.8% retracement.

There seems to be another chance that for price to resume downside at 78.6% retracement.

A break below 0.76 could give a clearer picture that the downside would happen but if price breaks above 0.7675, it could squander any thought of a bearish continuation

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