AUDUSD bearish cypher
On the daily chart, AUDUSD stabilized and moved upward in the short term. Currently, we can pay attention to the resistance near 0.6780. Once it reaches that level, there may be a chance to form a bearish cypher.
Confirm the length of XA band in the chart
Point B is the 38.2%-61.8% retracement of XA band
Point C is at most the 113%-141.4% extension of XA band
Point D is the 78.6% retracement of XC length
Point D is the potential reversal area
Target is the 38.2% and 61.8% retracement of CD band
Stop loss point is above X (0.6871)
Confirm the length of XA band in the chart
Point B is the 38.2%-61.8% retracement of XA band
Point C is at most the 113%-141.4% extension of XA band
Point D is the 78.6% retracement of XC length
Point D is the potential reversal area
Target is the 38.2% and 61.8% retracement of CD band
Stop loss point is above X (0.6871)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.