Daily Video Analysis: AUDUSD testing resistance, potential for a reversal!

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Daily Video Analysis: AUDUSD testing resistance, potential for a reversal!

Today we take a look at AUDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is testing the descending trendline resistance. We expect a medium-probability bearish reversal at our sell entry level, in line with 78.6% Fibonacci retracement, and a further drop to our take profit level, in line with our horizontal swing low support.

The material has been provided by InstaForex Company – www.instaforex.com

Source : https://www.fx.co/forex_analysis/quickview/208261/