AUDUSD Medium-term Sell Opportunity
The AUDUSD pair followed our previous signal with great precision (March 19, see chart below), hitting the 0.63750 Target:
Following that, the price rebounded and has so far been rejected yet again on the 0.5 Fibonacci retracement level. That is the strongest medium-term Resistance and a symmetrical sell level where the similar sequence of June - July 2023 Double Topped and got rejected even below the 1.236 Fibonacci extension.
As a result, we take a similar bearish stance and take this opportunity to sell again and target 0.63450 (1.235 Fib ext).
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Following that, the price rebounded and has so far been rejected yet again on the 0.5 Fibonacci retracement level. That is the strongest medium-term Resistance and a symmetrical sell level where the similar sequence of June - July 2023 Double Topped and got rejected even below the 1.236 Fibonacci extension.
As a result, we take a similar bearish stance and take this opportunity to sell again and target 0.63450 (1.235 Fib ext).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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