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01.12.202012:24 Forex Analysis & Reviews: Daily Video Analysis: AUDUSD facing bullish pressure, potential for further rise!

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Today we take a look at AUDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. AUDUSD has just bounced off our support level at 0.73393, which is in line with our 50% Fibonacci retracement level, and could possibly rise further to our take profit level. It is worth noting that price continues to trend above the EMA(55) which shows bullish pressure in line with our analysis.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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