STO Technical - AUD/USD oversold?

Monday, 06/03/2017 | 08:44 GMT

Disclaimer

AUD/USD has rallied from last week’s lows and is now holding close to the 23.6% retracement of the short term sell-off. If this falls, look for a move up to the late February lows around 0.7640.

Gold has already rejected a test of the 200 day moving average but this remains in sight. Look for support around the 38.2% retracement of last year’s sell off near $1220, with resistance at that moving average around $1260.

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

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

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