AudUsd Midterm Trend

With the expected easing in the DXY, we anticipate an upward movement in AUD/USD. Technically, before this movement begins, the price might retest the previous low at the Fibonacci 38.2% level. If the 38.2% level breaks, it could test the 50% and 61.8% levels. We recommend waiting for the price to reach the 38.2% level before entering a trade. Even if you see short-term upward movements in the price, it is likely that the price will retest the lows before the main uptrend starts. You can place your stop-loss orders below the 61.8% level (0.6490) for your buy trades.