💲AUD/USD Falling to support
💲Post is a direct continuation of my previous post:
💲The wave of weakness on the Australian Dollar has already begun.
💲Friday's session brought us a retest of the resistance zone after which we started a rally towards the south where I find a strong support zone.
💲I determined the support zone based on the 0.382 level of the entire upward wave and the 1:1 level of the largest downward correction in the current long-term uptrend
💲The support zone visible on the chart I determined on the basis of the space between the two levels 0.5 and 0.618 of the current downward wave, these were also the places where price found resistance many times in the past
The scenario I am playing out is a continuation of the decline, I also do not rule out a retracement of the resistance zone, but ultimately I see the price in the support zone within the next week.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
💲Post is a direct continuation of my previous post:
💲The wave of weakness on the Australian Dollar has already begun.
💲Friday's session brought us a retest of the resistance zone after which we started a rally towards the south where I find a strong support zone.
💲I determined the support zone based on the 0.382 level of the entire upward wave and the 1:1 level of the largest downward correction in the current long-term uptrend
💲The support zone visible on the chart I determined on the basis of the space between the two levels 0.5 and 0.618 of the current downward wave, these were also the places where price found resistance many times in the past
The scenario I am playing out is a continuation of the decline, I also do not rule out a retracement of the resistance zone, but ultimately I see the price in the support zone within the next week.
🚀If you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.🚀
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💲 To keep up to date with all my activities I invite you to visit my Telegram 💲
💲 www.t.me/Investmatez 💲
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