AUDUSD has moved towards important short-term Fibonacci target level as expected. The bullish divergence warnings we talked about in previous analysis are now being confirmed as price is bouncing.
AUDUSD has moved from 0.6555 to 0.6646 very close to our first target where the 38% Fibonacci retracement is found. The bullish divergence warning we noted is being confirmed and price starts to rise. First resistance is at the 38% level. I expect price to move again and capture that level and most probably to move higher still.