FX.co ★ Technical analysis and trading recommendations for the AUD/USD currency pair as of February 6, 2017

The AUD/USD currency pair was working out the range of resistance level 0.8110 and formed a full-fledged correction, pulling the quotation by almost 260 points. Currently, we could see how the price reached the 0.7830 level and remained holding the "bearish" interest. It is possible to assume that the descending interest will continue, but stagnation is possible before further progress, which is one of its prerequisites. The quotation is overheated, but rollback or stagnation is not. As of this writing, we are near the level of 0.7830 that coincides with the Fibo level of 50%, this is probably the point of the possible rollback.

Key Levels

Resistance - 0.8110; 0,8280

Support - 0.7810; 0.7740 *; 0.7620

Attention: Predictions are not a direct action to action!

* The presented market analysis is informative and does not constitute a guide to the transaction.