AUDUSD Forecast
D1 - Price has reached an important resistance zone formed by the 38.2% - 50% fibonacci retracement level of the cycle we have and the downtrend line. Bearish Hidden Divergence.
H4 - While measuring the first wave, the 61.8% fibonacci expansion level coincides with the daily resistance zone which makes this area a very strong resistance zone and the price is holding in this zone.
20 candles ride in Bollinger Bands, bearish divergence.
H1 - Bearish convergence. Until the invalidation level shown in the chart holds we may expect further continuation lower.
H4 - While measuring the first wave, the 61.8% fibonacci expansion level coincides with the daily resistance zone which makes this area a very strong resistance zone and the price is holding in this zone.
20 candles ride in Bollinger Bands, bearish divergence.
H1 - Bearish convergence. Until the invalidation level shown in the chart holds we may expect further continuation lower.
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