logo

FX.co ★ AUDUSD, H4 | Potential reversel from trendline?

AUDUSD, H4 | Potential reversel from trendline?

Price is approaching our 1st resistance level at 0.6694 along with a 61.8% Fibonacci retracement. If the price were to break above, it could push up to 2nd resistance at 0.6779

However, if the price were to reverse from 1st resistance level, it could drop down to 1st support at 0.6565. In addition, there is a descending trendline that may reverse from this point

AUDUSD, H4 | Potential reversel from trendline?

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the articles list Go to this author's articles Open trading account