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T3-Consultancy

AUDUSD H4: Bearish outlook seen, further downside below 0.7000

Short
Australian Dollar / U.S. Dollar (FOREXCOM:AUDUSD)  
T3-Consultancy  
FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdlong audusdshort Forex forextrading
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trendanalysis harmonicpatterns chartpattern audusd aud usd audusdlong audusdshort forex forextrading
On the H4 time frame, a pullback to the resistance zone at 0.7000 which coincides with the Fibonacci confluence levels could see a reversal below this zone to the support zone at 0.6860. Failure to hold below the resistance zone at 0.7000 could see prices push higher to the next resistance zone at 0.7080. Prices are holding below the 50 EMA as well, supporting the bearish bias.
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