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FX.co ★ AUDUSD, H4 | Potential reversel from trendline?

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Forex Analysis:::2023-03-16T09:10:36

AUDUSD, H4 | Potential reversel from trendline?

Price is approaching our 1st resistance level at 0.6694 along with a 61.8% Fibonacci retracement. If the price were to break above, it could push up to 2nd resistance at 0.6779

However, if the price were to reverse from 1st resistance level, it could drop down to 1st support at 0.6565. In addition, there is a descending trendline that may reverse from this point

AUDUSD, H4 | Potential reversel from trendline?

Analyst InstaForex
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