AUDUSD
A combinations of factors occurring at the current price level show a potential trend continuation to the downside and short trade opportunity
- Fibonacci cluster zone:
- Fibonacci retracement 38.2 %
- Fibonacci retracement 61.8 %
- Fibonacci Projection 127.2 %
- Trend line resistance is being retested
And price is currently in a confirmed downtrend (lower lows/highs) heading for the supply zone, which if zoomed out to the weekly chart, price can be seen bouncing between clear supply/demand zones.