AUDUSD setting up a bearish configuration
We can see that there is clear support at 1.5606 and a potential bearish breakout is starting to form with price breaking below our ichimoku green cloud and RSI also breaking our ascending support. The only thing left to break to trigger a potential big drop is our 1.5606 support.
Our next big support would then be at 1.5473 which is our horizontal overlap support at key 61.8% Fibonacci retracement level.
Our next big support would then be at 1.5473 which is our horizontal overlap support at key 61.8% Fibonacci retracement level.
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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.