Salzworth

Bearish outlook on AUDUSD: 24th November 2022

Short
FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
On the H4 timeframe, prices are facing bearish pressure from its resistance area at 0.67500, in line with the 78.6% Fibonacci retracement . The pullback to this zone presented an opportunity to play further drop to the next support target at 0.65000, in line with the 141.4% Fibonacci retracement . Stochastic is in the overbought region, supporting our bearish bias.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.