AUDUSD is presenting us with an opportunity to short.
Price has formed a double top at a significant level of horizontal structure and channel resistance with clear RSI divergence, suggesting buyer exhaustion.
Price has also been moving in a rising wedge pattern.
If price continues to trend down, my first target will be the .382 and .618 Fib Retracement + Structure confluence level.
My second target will be the .5 and .786 Fib Retracement + Structure confluence level.
Please Like, Follow, and Comment for more analysis!
Goodluck!
Price has formed a double top at a significant level of horizontal structure and channel resistance with clear RSI divergence, suggesting buyer exhaustion.
Price has also been moving in a rising wedge pattern.
If price continues to trend down, my first target will be the .382 and .618 Fib Retracement + Structure confluence level.
My second target will be the .5 and .786 Fib Retracement + Structure confluence level.
Please Like, Follow, and Comment for more analysis!
Goodluck!
