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Salzworth
Jan 10, 2022 8:36 AM

Outlook on AUDUSD: Bearish play seen Short

Australian Dollar / U.S. DollarFOREX.com

Description

On the daily time frame, prices are currently testing a key supply zone where we could see further downside below the supply zone. On the H2 time frame, a pullback to the resistance area, in line with the 50% fibonacci retracement and 78.6% Fibonacci extension presents an opportunity to play the drop to the next support target at 0.70902. Ichimoku cloud is showing signs of bearish bias as well.
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