FX.co ★ AUD/USD

It will be interesting to see if AUD/USD can reverse from the 9% Fibonacci retracement resistance on the four-hour timeframe. It is currently trading at 0.7120. Yesterday was not very successful for me as I opened a sell position closer to the evening when a signal for a decline appeared. Later on, the price went up and broke the previous high. At that time, I did not expect buyers to have further targets above. Currently, the target is at 9%, but it was not considered before the new high was formed. AUD/USD is still in a downtrend correction with deep downside targets, but the price is moving towards the high, which creates clear risks of reaching it and breaking through. I am now looking at trades on this pair very carefully as it can be surprising.