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Sunday, March 7, 2021

Price back below the 21-hour moving average, taregtting lower structures

AUD/USD has broken structure to the downside on an hourly basis. 

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Bears will be seeking to sell into rallies around the 38.2% Fibonacci, (guarding the 21-hour moving average) if the structure is pierced at the lower confluence of the 23.6% Fibonacci and 50-hour moving average. 

To the downside, the various highs of the uptrend are marked with an eclipse offering potential demand levels en-route towards the 200-hour moving average and lowest levels structure.

AUD/USD hourly chart

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AUD/USD levels

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