Blake Morrow’s EDGE Chart of The Day – AUDUSD
Blake Morrow’s EDGE Chart of The Day – AUDUSD
AUDUSD nearing Golden Fibonacci Retracement Target
The AUDUSD is closing above the 200dma today for the first time since November of last year. And this development as the pair is near the highs of the day should allow for further gains in the days ahead.
The first target is the 127% extension of the quick drop (Liberation Day early April) which is at the .6524 level. Above there, the next resistance is at .6557, which is the 61.8% Fibonacci retracement of the September 2024 high to April 2025 low. Once there, we’d expect sellers to step into the market.
20250506
