๐ฆ AUD/USD Important Support Zone
๐ฆ Nearest strong support zone: around recent lows.
๐ฆ Nearest strong resistance zone: around the 0.382 fibo level of the upward wave.
๐ฆ Technical environment:
๐ Moving averages: 50/50.
๐ MACD: Uptrend
๐ RSI: Uptrend
๐ฆ Price Action: In the current post I wanted to introduce you to an interesting support zone on the AUD/USD pair which, like the rest of the currency pairs with the dollar, scored a strong price slide in recent days. It looks like the currently started downward wave may become a bit longer and take on a deeper character, hence on the chart I have marked for you a very likely place to end the current downward wave. This place has played a key role many times in the past. It is a cluster of two fibo levels. The first is the 0.5 level of the upward wave and the 0.382 level of the current upward wave. This is a cluster of two fibo levels located close to each other which only increases the probability of a price reaction at this level. For this reason, I encourage you to watch this level in the coming weeks.
๐ The scenario I'm playing out is a continuation of price declines over the coming weeks. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
๐ If you appreciate my work and effort in this post, I encourage you to leave a like and follow on my profile. ๐
๐ฆ Nearest strong support zone: around recent lows.
๐ฆ Nearest strong resistance zone: around the 0.382 fibo level of the upward wave.
๐ฆ Technical environment:
๐ Moving averages: 50/50.
๐ MACD: Uptrend
๐ RSI: Uptrend
๐ฆ Price Action: In the current post I wanted to introduce you to an interesting support zone on the AUD/USD pair which, like the rest of the currency pairs with the dollar, scored a strong price slide in recent days. It looks like the currently started downward wave may become a bit longer and take on a deeper character, hence on the chart I have marked for you a very likely place to end the current downward wave. This place has played a key role many times in the past. It is a cluster of two fibo levels. The first is the 0.5 level of the upward wave and the 0.382 level of the current upward wave. This is a cluster of two fibo levels located close to each other which only increases the probability of a price reaction at this level. For this reason, I encourage you to watch this level in the coming weeks.
๐ The scenario I'm playing out is a continuation of price declines over the coming weeks. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
๐ If you appreciate my work and effort in this post, I encourage you to leave a like and follow on my profile. ๐
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๐ฒ To keep up to date with all my activities I invite you to visit my Telegram ๐ฒ
๐ฒ www.t.me/Investmatez ๐ฒ
๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ๐ซ