AUDUSD facing bearish pressure | 5 May 2021

Prices are facing bearish pressure from 61.8% Fibonacci retracement level. Prices might push down towards horizontal swing low support in line with 61.8% Fibonacci extension as well as 127.2% Fibonacci retracement. If prices push up further, prices might face resistance from horizontal swing high resistance in line with 78.6% Fibonacci...

Market Quick Take – May 5, 2021

A steep sell-off in equities was already underway in the US yesterday, when the selling was aggravated by US Treasury Secretary Janet Yellen suggesting there could be a need to hike rates due to the risks of an overheating economy, comments that she later softened in a clarification. Markets have...