• July 1, 2024
  • Trade ideas

AUDUSD: Critical Resistance Zone

AUDUSD, Daily

AUDUSDDaily.png

On the Daily chart, AUDUSD faces the crucial resistance zone at 0.6680, aligned with the Golden Fibonacci ratio. The price is above the MA’s, potentially indicating a bullish momentum for the asset.

  • If the price breaks above the 0.6680 resistance, it may propel the asset to the 0.6850 level;
  • However, rebounding of the Fibonacci ratio can trigger a decline to 0.6550 support.
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Author: Timur Yurdagyul