AUDUSD, H4
On the H4 timeframe, AUDUSD navigates within a downtrend and faces the 0.6650 support and 38.2 Fibonacci ratio. The MFI oscillator shows a bullish divergence with the asset, and the Stochastic oscillator is in the oversold zone, potentially indicating a bullish momentum.
- If the price rebounds from the0.6650 support, it will open the way for a rise to the 0.6800 level;
- However, a breaching below the 38.2 Fibonacci, will return the asset back to 0.6520 support.
