empty
 
 
16.06.2021 11:25 AM
AUDUSD facing bearish pressure. Drop incoming!

This image is no longer relevant

AUDUSD facing bearish pressure and holding below moving average resistance and descending trendline resistance. An intraday drop below our 1st resistance at 0.76998 towards graphical swing low support and 1st support at 0.76744 could be possible.

Trading Recommendation

Entry: 0.76998

Reason for Entry:

61.8% Fibonacci retracement, descending trendline resistance

Take Profit: 0.76744

Reason for Take Profit:

Graphical swing low support

Stop Loss: 0.77160

Reason for Stop Loss:

Graphical swing low resistance

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback