AU is forming a beautiful bearish trend on a 4 hr time frame. AU is also a correlative pair with GA and we see that GA just broke a consolidation zone to the upside giving potential signs of bullish continuation. If AU respects FIB zones, it should continue to the downside to form next lower low. Of course, news will play a role in our bias for now and we will wait for entry before taking sells on AU.
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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.