Home Forex Bulls re-emerge after a high-volatility event

Bulls re-emerge after a high-volatility event

by SuperiorInvest
  • AUD/USD bulls eyeing 0.7100s at CPI level.
  • The bulls are coming back after a well-deserved correction.

AUD/USD bulls moved to the 61.8% Fibonacci retracement level following a correction of a high-impact event in today’s Tokyo session, as shown below.

The Aussie Consumer Price Index beat expectations, sending AUD/USD from a low of 0.7038 to a new bull cycle high of 0.7084. However, the pair fell back to the top but has since recovered and is targeting a breakout of session highs at the time of writing.

AUD/USD 1 minute chart

The price could rise to the 0.7100/20 area according to the daily chart:

Source Link

Related Posts

%d bloggers like this: