FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD was on clear down trend from last week but today it got a firm support from fibo 50 % and support 61 of weekly pivot . If you see previous chart it has bounced from the same price 3 times in a row before breaking it

in the current scenario if price breaks lower than 50%fibo the firs target be 0.7297 and 0.7214

in alternate situation a bounce above the price 0.7373 will call for 0.74458, 0.7528

from my experience of few years whenever price breaks weekly pivots it tends to hit the first and second resistance or support

Happy Trading


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