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AUD/USD Fibonacci retracement

STO

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AUD/USD is under a degree of pressure after an abortive rally overnight. Look for a breakdown to the 50% retracement of the May rally at 0.7425.


USD/JPY is still showing downside pressure with the 200 day SMA in focus around 110.20. Interim support may be seen at 110.50, the 61.8% reversion of the April/May rally.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice

STO Review

Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/audusd-fibonacci-retracement
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