FX.co ★ Daily Video Analysis: AUDUSD broke below trendline support! Drop incoming!

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.

AUDUSD broke below ascending trendline support (now resistance). A further drop below 1st resistance at 0.73500 towards graphical swing low and 1st support at 0.73173 could be possible. Technical indicators are showing room for further bearish momentum as well.