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 holding below the descending trendline resistance and moving average resistance, showing signs of bearish pressure. We could see a reversal at sell entry level, in line with 61.8% Fibonacci retracement and further drop towards take profit levels, in line with horizontal swing low support and -61.8% Fibonacci retracement.