AUDUSD Medium-term Sell Opportunity

13 May

The AUDUSD pair followed our previous signal with great precision (March 19, see chart below), hitting the 0.63750 Target:

Following that, the price rebounded and has so far been rejected yet again on the 0.5 Fibonacci retracement level. That is the strongest medium-term Resistance and a symmetrical sell level where the similar sequence of June - July 2023 Double Topped and got rejected even below the 1.236 Fibonacci extension.

As a result, we take a similar bearish stance and take this opportunity to sell again and target 0.63450 (1.235 Fib ext).

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