- According to the previous events, the AUD/USD pair is expected to move between the levels of 0.7815 and 0.7667.
- The resistance is found at the level of 0.7813 which represents a ratio of 38.2% Fibonacci retracement levels.
- Consequently, the market will indicate a bearish opportunity below 0.7813, because the level of 0.7815 is going to act as strong resistance.
- Therefore, it will be a good sign to sell below this level today with the first target at 0.7730 in order to test the daily pivot point in the H4 chart.
- If the trend succeeds to close below 0.7730, the market will continue its downtrend below the weekly pivot point towards the level of 0.7660 on June 19, 2015.
- On the other hand, the stop loss should be placed above 0.7820 at 0.7852.
The material has been provided by InstaForex Company – www.instaforex.com