AUDUSD reacting below descending trendline resistance. A short term intraday drop below our 1st resistance at 0.77824 towards recent swing low and 1st support at 0.77523 could be possible. Technical indicators are also showing room for further bearish momentum
Trading Recommendation
Entry: 0.77824
Reason for Entry:
61.8% Fibonacci retracement, Descending trendline resistance
Take Profit: 0.77523
Reason for Take Profit:
Graphical swing low support
Stop Loss: 0.78026
Reason for Stop Loss:
Recent swing high
