(AUD/USD)
Price initially have broken the inner downtrend line & move into Buy Zone after create consecutive Higher Low & Higher High. In term of Fibo Swing Strategy, Price is reject & hold by CTL + 78.6% Fib Lvl. Current price is sustaining above Daily Resistance(NOW turned into DAILY SUPPORT), which indicates bias still in the buy zone. Any penetration to below the daily support will turn the overall bias.
Price initially have broken the inner downtrend line & move into Buy Zone after create consecutive Higher Low & Higher High. In term of Fibo Swing Strategy, Price is reject & hold by CTL + 78.6% Fib Lvl. Current price is sustaining above Daily Resistance(NOW turned into DAILY SUPPORT), which indicates bias still in the buy zone. Any penetration to below the daily support will turn the overall bias.
Note
Price had fall below the daily support & break below the CTL (dotted-red). In this case, we'll see the overall bias have turned bearish again (resume to dominant bias)Cheers!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.