During yesterday trades, the pair formed a new bullish bottom for the short-term at the level 1.3855, this bullish bottom represents the point C of the harmonic pattern AB=CD that is in its forming stage whereas, the rib BC represents 61.8% Fibonacci's correction level for the rib AB so it is expected that the rib CD will be completed at 161.8% Fibonacci's continuous level for the rib BC. With breaking the resistance level 1.4003 which represents the point B and also with breaking the 1.4035 it is expected that, the pair will continue forming the bullish rib CD which targets to reach the level 1.4110 which represents the point D that completes the harmonic pattern.
The stability of these expectations requires the stability of the support level 1.3855.
Res: 1.4055 1.4113 1.4213
Sup: 1.3897 1.3797 1.3739
Yesterday trades were volatile and confused between rising and declining and by drawing Fibonacci's correction levels for the last bearish wave for the short-term it is noticed that the pair faced the support level 1.6060 at the beginning of the Asian market trades today, this level represents 23.6% Fibonacci's correction levels and now the pair is testing the resistance level 1.6115 which represents 38.2% of the same correction levels. If the pair succeeded to break this level with stability above it is expected that the pair will target the resistance level 1.6200 which represents 61.8% of the same correction levels during today's intraday trades.
The stability of these expectations requires the stability of the support level 1.6060.
Res: 1.6185 1.6286 1.6389
Sup: 1.5981 1.5878 1.5777
During yesterday trades, the pair registered a new record by reaching the lowest price in these trades at the level 0.9140 which is located in the support area of the percentage 127 of Fibonacci's continuous levels for the uptrend (from 0.9201 to 0.9368). At this percentage, the pair formed a bottom and used it to rise during the last intraday trades targeting to re-test the level 0.9201 which became a resistance level. It is expected to form a bearish top at this level that will force the pair to decline breaking the level 0.9140which with its breaking downwards means more declining till reaching the level 0.9099 which represents 161.8% Fibonacci's continuous level for the same mentioned uptrend.
Res: 0.9230 0.9296 0.9341
Sup: 0.9119 0.9074 0.9008
After raising the pair yesterday by forming a reversal candle as noticed in the chart, the pair is between the resistance level 0.9857 which represents 38.2% Fibonacci retracement correction level for the last bullish wave and the support level 0.9819 which represents 50.0% Fibonacci retracement correction level.
If the pair breaks the support level 0.9819 which represents 50.0% Fibonacci retracement correction level and the stability below it, so the pair will target the support level 0.9783 which represents 61.8% Fibonacci retracement correction level.
But if the pair breaks the resistance level 0.9857 which represents 38.2% from the same previous mentioned Fibonacci retracement correction level and the stability above it; the pair will target the resistance level 0.9901 which represents 23.6% from the same previous mentioned Fibonacci retracement correction level.
Res: 0.9970 1.0090 1.0208
Sup: 0.9732 0.9614 0.9494
Yesterday pair trades saw a continuation of a great selling positions which reserves the Australian bank decision on keeping the interest rate without any changes, it was expected in the last report that with breaking the central support level 0.9965, the pair will continue declining till the level 0.9849 which represents 161.8% Fibonacci retracement correction level for the bullish direction (from 1.0067 to 1.0158 ) which is already done, after reaching this level the pair formed a bearish bottom which pushed it up during the last intraday trades searching to form a bearish top which will force the pair to decline again trying to break the support level 0.9849 which with breaking it down means a further drop till the next support level at 0.9776 which represents 200% Fibonacci retracement continuous level for the same mentioned bullish direction, expecting that a bearish top will be formed at the level 0.9965 which became a resistance level after breaking it down.
Res: 1.0059 1.0227 1.0349
Sup: 0.9769 0.9647 0.9479