Nice idea on AUDUSD and there may be bearish potential as you have identified. The 1st resistance that we have identified is at 0.7144. It is a horizontal swing high resistance, with a 38.2% Fibonacci retracement & 61.8% Fibonacci extension. Stochastic is approaching its resistance at 98% where a corresponding drop could occur. If a potential drop does occur, we may want to look at 0.7081 support level. It is a horizontal overlap support, with a 61.8% Fibonacci retracement. Looking forward to see how things develop.
Please have a look at our idea and we would like to hear your thoughts.
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I agree with your bearish view on AUDUSD. Our trading signal idea is also of the same bias. If it breaks out of its support at 0.7090, we expect a further move down. Here’s our idea!
Please have a look at our idea and we would like to hear your thoughts.