The AUD/USD chart shows a bearish trend, with price expected to continue downward towards the 1st support level at 0.6619, given it breaches the intermediate support at 0.6697. This support level aligns with the 61.80% Fibonacci projection. The 2nd support at 0.6582, coinciding with Fibonacci confluence, can provide additional price support. Conversely, the 1st and 2nd resistances at 0.6736 and 0.6812 respectively could pose significant barriers to upward price movement.
The material has been provided by InstaForex Company – www.instaforex.com
The AUD/USD chart shows a bearish trend, with price expected to continue downward towards the 1st support level at 0.6619, given it breaches the intermediate support at 0.6697. This support level aligns with the 61.80% Fibonacci projection. The 2nd support at 0.6582, coinciding with Fibonacci confluence, can provide additional price support. Conversely, the 1st and 2nd resistances at 0.6736 and 0.6812 respectively could pose significant barriers to upward price movement.
The material has been provided by InstaForex Company – www.instaforex.com
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