Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
AUDUSD climbed above 0.6920 intraday on Friday after finding support from the 0.6870 lows on Wednesday. The near-term structure remains constructive for bulls until prices stay above the 0.6830 mark. The currency pair is seen to be trading close to 0.6910 at this point in writing and is expected to resume higher towards the 0.7280 mark in the near term.
AUDUSD might have completed its larger degree corrective wave, which began from the 0.8000 mark as presented on the daily chart. The potential flat terminated at around 0.6830 and is now looking ready to push through the 0.7345 mark at least, if not higher. Please note that the Fibonacci 0.618 retracement of the recent downswing between 0.7660 and 0.6830 is also seen close to the 0.7345 mark.
AUDUSD bears will be poised to be back in control from the 0.7345 mark if prices are able to reach there. Also, note that the recent boundary which is being worked upon is between 0.6830 and 0.7280. Prices have retraced and found support around 0.6850 recently. If the above structure holds well, we should witness a sharp rally towards 0.7345 at least.
Potential rally through 0.7345 mark against 0.6800
Good luck!
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.