Double Top formation for AUDUSD ?
- Price is moving between support and resistance at around 40 pips range for about 27 4 hour bars equivalent to 6 days period.
- Appeared that price is hardly to break the resistance after trying to do so for 8 times and forming double top formation.
- If the price successfully break the support zone, I will opt for going short and targeting around 20 to 60 pips at 0.6936 and 0.6901 level.
- But if the support level continue to support the price, it is potentially to bounce the price back around 40 pips to 0.7000 BRN level.
- Appeared that price is hardly to break the resistance after trying to do so for 8 times and forming double top formation.
- If the price successfully break the support zone, I will opt for going short and targeting around 20 to 60 pips at 0.6936 and 0.6901 level.
- But if the support level continue to support the price, it is potentially to bounce the price back around 40 pips to 0.7000 BRN level.
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