AUDUSD Testing Resistance, Potential For Reversal
AUDUSD is testing its resistance at 0.7374 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.7283 (61.8% Fibonacci retracement) is expected.
Stochastic (55, 5, 3) has reversed off its resistance at 95% where a corresponding drop is expected. We have also identified a bearish divergence with price that contributes to our bearish bias.
Stochastic (55, 5, 3) has reversed off its resistance at 95% where a corresponding drop is expected. We have also identified a bearish divergence with price that contributes to our bearish bias.
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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.