17 May 2019
AUD/USD technical analysis: lowest levels since flash crash with upside reversion target at 0.6915 swing low
- AUD/USD is now oversold on a short term and daily basis.
- AUD/USD likely needs correction before sinking lower towards the said target down in the 0.6850's.
- 0.6855 is the 78.6% Fibo target.
- A correction to the upside opens 0.6915 as the last bullish stick's lows on the 4HR outlook, a swing low following the decline from 0.6950.
Daily chart and oversold stochastics with 78.6% Fibo target:
