FX.co ★ AUDUSD facing bearish pressure. Drop incoming!

AUDUSD facing bearish pressure and holding below moving average resistance and descending trendline resistance. An intraday drop below our 1st resistance at 0.76998 towards graphical swing low support and 1st support at 0.76744 could be possible.

Trading Recommendation

Entry: 0.76998

Reason for Entry:

61.8% Fibonacci retracement, descending trendline resistance

Take Profit: 0.76744

Reason for Take Profit:

Graphical swing low support

Stop Loss: 0.77160

Reason for Stop Loss:

Graphical swing low resistance