FX.co ★ Daily Video Analysis: AUDUSD facing bearish pressure, potential for further drop!

Today we take a look at AUDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as MACD is holding below the 0 line, in line with our analysis. We could potentially see a reversal at our sell entry level, in line with 61.8% Fibonacci retracement, and a further drop towards our take profit levels, which are in line with our horizontal swing low support and -61.8% Fibonacci retracement.