AUDUSD testing resistance, further potential drop!

25 במאי 2018

AUDUSD is testing our first resistance at 0.7567 (horizontal overlap resistance, 61.8% Fibonacci retracement) where price might drop to our first support at 0.7526 (horizontal swing low support, 50% Fibonacci retracement). A breakout below our short term ascending support line would provide the bearish acceleration to our major support target.
RSI (21) is also facing bearish pressure and is seeing a bearish divergence, in line with our bearish bias.