FX.co ★ AUDUSD continue to have hopes.

AUDUSD is trading around 0.7290. Price is showing reversal signals as price has made an important low at the 61.8% Fibonacci retracement of the entire upward movement from 0.71 to 0.7475.

The RSI has already started turning upwards. Price has most probably formed an important low. Our first target is the recent highs area of 0.7450-0.7430. Breaking above this resistance will open the way for move towards 0.76. Support is at recent lows at the 0.7230 area. As long as price is above this level, I expect price to continue its new upward move.