MEX_Exchange
Short

AUDUSD continues to test major resistance, remain bearish

FX:AUDUSD   Australian Dollar / U.S. Dollar
Sell below 0.8018. Stop loss at 0.8116. Take profit at 0.7817.
Reason for the trading strategy (technically):
Price continues to test major resistance at 0.8018 ( Fibonacci retracement , Fibonacci extension , bearish divergence) and we expect a drop from this level to push price down to at least 0.7817 support ( Fibonacci retracement , horizontal swing low support).
RSI (34) sees ascending support as more intermediate support and only a break of this level would trigger a very bearish move. We can also see bearish divergence vs price signalling that a reversal is impending.
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thanks for the great update! btw chat seems not alive...
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