FX.co ★ Daily Video Analysis: AUDUSD facing bearish pressure, potential for further drop!

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 facing bearish pressure as it continues to hold below the descending trendline and moving average resistance. We could potentially see a further drop from our sell entry level, in line with our 23.6% Fibonacci retracement, towards our take profit level in line with our -27.2% Fibonacci retracement.