The price on AUDUSD has followed the expected movement as outlined in the previous analysis
. Currently, the price faces a combination of four resistance levels that need to be cleared before moving further down: a weekly trend line, a yearly trend line, the key level of 0.68650, and the 38.20 Fib level.
It is probable that the price will bounce off these strong resistance levels and head back towards 0.70000 to form a head and shoulders pattern.
----------------------
Let me know your thoughts in the comments, and show your support by liking the idea.
Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!
It is probable that the price will bounce off these strong resistance levels and head back towards 0.70000 to form a head and shoulders pattern.
----------------------
Let me know your thoughts in the comments, and show your support by liking the idea.
Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!
