AUDUSD facing bearish pressure | 5 May 2021

Prices are facing bearish pressure from 61.8% Fibonacci retracement level. Prices might push down towards horizontal swing low support in line with 61.8% Fibonacci extension as well as 127.2% Fibonacci retracement. If prices push up further, prices might face resistance from horizontal swing high resistance in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension. Ichimoku cloud is also above prices, showing a bearish pressure for prices.