• AUD/USD bears are in the market tracking the 38.2% Fibo.
  • Daily trend line supports are looking to the downside.

The Aussie dollar was at the end of its last gasp on Friday with the price at a four-month high after rising 1.3% overnight. It is set for a 2.2% weekly gain, the best since mid-November 2022, and well off its 2023 low of $0.6459 two weeks ago. Technically, the price now reaches the daily block order:

AUD/USD Daily Charts

At this point, there could be a sell-off and focus on the 0.68s depths:

We also have trendline supports to target.

The Fibonacci the benchmark is also in focus in this regard with the 61.8% eye in confluence with key support on the 4-hour chart:

AUD/USD Chart H4

This wick is susceptible to filling to subsequently test the 38.2% Fibo.

Source Link