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

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 approaching our buy entry level, which is in line with our 38.2% Fibonacci retracement, where we could potentially see a bounce and further rise up towards our take profit level, which is in line with our horizontal pullback resistance level. It is worth noting that price has just crossed above the moving average support, showing bullish pressure in line with our analysis.