AUDUSD has taken very good support at the trend line , but after making 100% Fibonacci retracement , it came down and broke the trend line , again tested the 100% Fibonacci retracement level. But it failed to give a breakout. We consider it a double top formation, which can be a trend reversal pattern for AUDUSD . Considering the trend pattern, we might see price will come to support 1, which will be our first target and then support 2, which will be the second target price.

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Vivek_Samale
Vivek_Samale

I have half a decade of experience as a trader and enthusiastically learning & developing new strategies in algorithm trading & also analyzing the companies with New ESG method.