AUDUSD is currently in a nice bullish move after breaking out a strong resistance found at 0.8875. So far the price action is looking rather firm and decided to reach the next resistance found at the 38.2% Fibo retracement (@0.89347).
We can expect a price exhaustion there and probably a reversal at the entry of this supply zone formed by the confluence of two distinct Fibo retracements that will act as resistance (please see the chart).
Limit short entry between 0.8935 and 0.8950, Stop Loss @ 0.9000 and Take Profit at 0.8825 the current support zone.
We can expect a price exhaustion there and probably a reversal at the entry of this supply zone formed by the confluence of two distinct Fibo retracements that will act as resistance (please see the chart).
Limit short entry between 0.8935 and 0.8950, Stop Loss @ 0.9000 and Take Profit at 0.8825 the current support zone.