AUDUSD M30: Bearish outlook seen, further downside below 0.67150
On the M30 time frame, prices are showing bearish order flow and facing bearish pressure from the resistance at 0.67150, in line with the graphical resistance zone and 61.8% Fibonacci extension. A pullback to the resistance zone at 0.67150 presents an opportunity to play the drop, with further downside seen to the support zone at 0.6630, which is the H4 demand zone. This 0.6630 support zone lines up with the graphical support and 61.8% Fibonacci retracement. Stochastic is testing resistance at 96.33 as well where we could see a reversal below this level, in line with prices.
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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.