AUDUSD broken major support, bearish potential!
AUDUSD has broken a major support-turned-resistance level at 0.7757 opening a potential drop to 0.7644 support (horizontal overlap support, 76.4% Fibonacci retracement ). It's nice to see that we've broken multiple ascending supports too signalling that bearish momentum is accumulating. We're also below our Ichimoku cloud which adds to our bearish bias.
RSI (34) has similarly made a bearish exit in line with what we have seen in price.
RSI (34) has similarly made a bearish exit in line with what we have seen in price.
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