FX.co ★ Daily Video Analysis: AUDUSD facing bearish pressure, potential for 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 facing bearish pressure as it holds below the descending trendline resistance, and Stochastics is also showing signs of bearish pressure as well. We could see a reversal at sell entry level, in line with 50% Fibonacci retracement, and further drop towards take profit levels in line with 50% and 78.6% Fibonacci retracement levels.