FX.co ★ AUDUSD is facing bearish pressure, potential for further drop!

AUDUSD is facing bearish pressure from our 20 EMA and a break below our downside confirmation could provide the bearish acceleration to our support target.

Trading Recommendation

Entry: 0.73449

Reason for Entry:

trend line, horizontal swing low support, 23.6% Fibonacci retracement

Take Profit: 0.72758

Reason for Take Profit:

Horizontal pullback support, 50% fibonacci retracement

Stop Loss: 0.73976

Reason for Stop Loss:

Horizontal swing high resistance, 76.4% fibonacci retracement