AUDUSD has bounced off a D-cross, supported by fibs and a horizontal level. D-cross is a cross between the operational channel trendline and operational pitchfork's median built off the same or close anchor points. A D-cross vicinity is likely to be an area of contention in corrections and other channel driven structures, and can transform into a place of a local or longer-term reversal. Fibs and other levels as well as trendlines in the vicinity of a D-cross are likely to play an noticeable role as support or resistance. Other recent examples of D-cross bounces include XAUUSD, GBPUSD and EURUSD in the linked Related Ideas.
