AUDUSD
Due to emergence of a strong supply response, yesterday evening market rejected a very important resistance at 0.7494 coinciding with the lower limits of the previous growth channel. Since then we observed declines. From the midday we observe bullish correction which for several hours oscillated around the level of 38.2% Fibonacci correction of the ongoing since yesterday declines.
EURUSD
After yesterday’s very dynamic increases almost all present day market moves south in a downward correction. In the near future we expect a test of support 1.0684 coinciding with the measuring 38.2% Fibonacci correction of yesterday’s gains. The rejection of this level would be a signal for continuing growth even in the vicinity of the level of 1.0850.
