AUS/USD Could Move Lower
Tickmill | Jan 20, 2022 03:34AM ET
Type: Bearish reversal
Preferred Case: AUD/USD is at the resistance of the Ichimoku cloud, we are biased that price will drop from our pivot at 0.72637 in line with the 61.8% Fibonacci retracement and the horizontal overlap resistance to 1st support at 0.71733 in line with the horizontal swing low support.
Alternative Scenario: Alternatively, the price may break pivot structure and the Ichimoku resistance and head for 1st resistance at 0.73106 in line with the 78.6% Fibonacci projection and the horizontal swing high resistance.
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