The AUD/USD chart shows bearish momentum, indicating a downward trend.
A potential bearish reaction at the first resistance level of 0.6881 could lead to a decline towards the first support level at 0.6679.
The first support at 0.6679 aligns with the 50% Fibonacci Retracement level, while the intermediate support at 0.6802 coincides with the 23.60% Fibonacci Retracement level.
The first resistance at 0.6881 acts as an overlap resistance with the convergence of the 127.20% and 61.80% Fibonacci Retracement levels. The second resistance at 0.7016 functions as a swing high resistance, aligning with the 78.60% Fibonacci Retracement level.
The material has been provided by InstaForex Company – www.instaforex.com
The AUD/USD chart shows bearish momentum, indicating a downward trend.
A potential bearish reaction at the first resistance level of 0.6881 could lead to a decline towards the first support level at 0.6679.
The first support at 0.6679 aligns with the 50% Fibonacci Retracement level, while the intermediate support at 0.6802 coincides with the 23.60% Fibonacci Retracement level.
The first resistance at 0.6881 acts as an overlap resistance with the convergence of the 127.20% and 61.80% Fibonacci Retracement levels. The second resistance at 0.7016 functions as a swing high resistance, aligning with the 78.60% Fibonacci Retracement level.
The material has been provided by InstaForex Company – www.instaforex.com
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