AUDUSD bearish cypher

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On the daily chart, AUDUSD stabilized and moved upward in the short term. Currently, we can pay attention to the resistance near 0.6780. Once it reaches that level, there may be a chance to form a bearish cypher.

Confirm the length of XA band in the chart
Point B is the 38.2%-61.8% retracement of XA band
Point C is at most the 113%-141.4% extension of XA band
Point D is the 78.6% retracement of XC length
Point D is the potential reversal area
Target is the 38.2% and 61.8% retracement of CD band
Stop loss point is above X (0.6871)

Feragatname

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