FX.co ★ Daily Video Analysis: AUDUSD approaching trendline resistance, potential for a reversal

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 approaching the descending trendline resistance, where we could see a reversal at sell entry, in line with 61.8% Fibonacci retracement, and further drop towards our take profit levels, which is in line with our horizontal swing low support and -27.2% Fibonacci retracement.