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 it holds below the descending trendline resistance, and Stochastics is also showing signs of bearish pressure as well. We could potentially see a reversal at sell entry level, in line with 76.4% Fibonacci retracement, and a further drop towards take profit, in line with horizontal swing low support.