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T3-Consultancy

AUDUSD H4: Bearish outlook seen, further downside below 0.6780

Short
Australian Dollar / U.S. Dollar (FOREXCOM:AUDUSD)  
T3-Consultancy  
FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns DJ FXCM Index AUDUSD audusdshort audusdbearish Forex forexsignals forextrading
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trendanalysis harmonicpatterns chartpattern usdollar audusd audusdshort audusdbearish forex forexsignals forextrading
On the H4 timeframe, prices have fallen below a key support-turned-resistance zone at 0.6780, which is in line with the 38.2% Fibonacci retracement. A pullback to this zone presents an opportunity to play the drop to the support zone at 0.6700, in line with the graphical low and 23.6% Fibonacci extension. Prices are holding below the Ichimoku cloud, supporting the bearish bias.
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