AUDUSD reacting below descending trendline resistance. A short term drop below our 1st resistance at 0.77391 towards 1st support at 0.77058 could be possible. Technical indicators are showing room for further bearish momentum as well.
Trading Recommendation
Entry: 0.77391
Reason for Entry:
61.8% Fibonacci retracement, Descending trendline resistance
Take Profit: 0.77058
Reason for Take Profit:
Graphical swing low
Stop Loss: 0.77611
Reason for Stop Loss:
Graphical swing high
