The AUD/USD chart displays bearish momentum, breaking below the intermediate support at 0.6440, indicating the potential for more downward movement towards the 1st support level. The 1st support at 0.6386 is a pullback support, while the 2nd support at 0.6338 reinforces its significance as a pullback support zone. On the upside, the 1st resistance at 0.6506 is an overlap resistance. Similarly, the 2nd resistance at 0.6606 aligns with the 50.00% Fibonacci retracement level and is also identified as an overlap resistance.
The material has been provided by InstaForex Company – www.instaforex.com
The AUD/USD chart displays bearish momentum, breaking below the intermediate support at 0.6440, indicating the potential for more downward movement towards the 1st support level. The 1st support at 0.6386 is a pullback support, while the 2nd support at 0.6338 reinforces its significance as a pullback support zone. On the upside, the 1st resistance at 0.6506 is an overlap resistance. Similarly, the 2nd resistance at 0.6606 aligns with the 50.00% Fibonacci retracement level and is also identified as an overlap resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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