AUDUSD on major resistance, potential major reversal!
AUDUSD is testing major resistance at 0.7988 (78.6% Fibonacci retracement, horizontal swing high resistance, bearish divergence) and a strong drop could occur at this level to push price down towards 0.7883 support (23.6% Fibonacci retracement, horizontal pullback support).
RSI (34) sees bearish divergence versus price signaling that a potential reversal is upcoming.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) sees bearish divergence versus price signaling that a potential reversal is upcoming.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results