AUD/USD Could Test Lower End Of The Channel
Tickmill | Jan 14, 2022 03:43AM ET
Type: Bearish reversal
Key Levels: Resistance: 0.73093, pivot: 0.72784 and support: 0.71990
Preferred Case: AUD/USD is abiding by the ascending channel, signifying an overall bullish momentum. However, the price dropped at the resistance level.
We can expect the price to fall from the pivot level in line with 23.6% Fibonacci retracement and 78.6% Fibonacci projection towards 1st support in line with 78.6% Fibonacci retracement and 78.6% Fibonacci projection.
Alternative Scenario: Alternatively, the price could push higher up towards 1st resistance in line with 100% Fibonacci projection.
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