FX.co ★ AUDUSD facing bullish pressure

AUDUSD is approaching the 1st resistance, 0.73579 in line with the 61.8% Fibonacci extension, 38.2% Fibonacci retracement and the breakout point of the ascending support turned resistance line. Prices are expected to push down after hitting the first resistance to the 1st support in line with the horizontal swing low. Our bearish bias is further supported by the price holding below the 50 moving average.