AUDUSD: Top of Megaphone hit. Reversal expected.

30 thg 9

AUDUSD is almost overbought on its 1D technical outlook (RSI = 68.054, MACD = 0.006, ADX = 53.204) as the price reached the HH trendline at the top of the Megaphone pattern. The 1D MACD printed a sequence almost identical to the December 28th 2023 top, which soon after declined to the 0.5 Fibonacci level. Consequently, we take this as a strong sell signal, aiming at the 0.5 Fib (TP = 0.66500).

See how our prior idea has worked out:

## If you like our free content follow our profile to get more daily ideas. ##

## Comments and likes are greatly appreciated. ##