🦘 Nearest strong support zone: around the fibo levels of 0.382 of the downward wave.
🦘 Nearest strong resistance zone: around local peaks.
🦘 Technical environment:
📊 Moving averages: 50/50
📊 MACD: Uptrend
📊 RSI: 50/50
🦘 Price action: AUD/USD bounced upwards today to the area of 0.696 but everything indicates that we are in for a continuation of declines as the Australian dollar does not have the strength to currently rise with the US dollar. The medium-term trend still remains downward leaving a lot of space for declines, especially after performing such an upward correction as last week.
📉 The scenario I am playing out is a continuation of the declines. I do not exclude changing the scenario in case of a sudden change in the market situation. I am aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and carefully read the description.
🚀 If you appreciate my work and effort put into this post, I encourage you to leave a like and follow on my profile. 🚀