AUDUSD Potential for Bearish Drop to recent swing low

[skrimon]

Looking at the H4 chart, my overall bias for AUDUSD is slightly bearish as there is a key resistance level , Looking for a sell entry at 0.69969 where below the overlap resistance and 23.6% Fibonacci retracement . We are looking to take a profit at 0.68592, which is the recent swing low, Stop loss will be placed at 0.71414, where the recent swing high is.

 

[jkennedy2469]

Looks good to me! Love this trade idea. Good luck good trading.

 

[webmastery]

AUDUSD seems strongly supported against the thick trendline as shown above.

Watch for 0.6752 as support.

My bias is go long. Buy on any signs of pullback, even if it dips below 0.6752.