* 2nd Rejection of counter trend line * Hit 78.6% level and now coming back to test 61.8% zone * target is test of daily trend line which has been broken once already, could start long term downward move and a continuation upwards
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price did break through and hit SL. I have a better set-up of EURAUD and GBPAUD so will not try to reenter.
@tahmid_, you're we have seen it move downwards, however, the 78.6 level is holding.
I believe the intended move of the higher timeframes should keep price from falling further.
the downward channel formed on the 1hr usually breaks to the upside - we might not see much movement until the asian session