AUDUSD bearish continuation 19 Aug 2021
Price dropped lower and is approaching 1st support at 0.70514. Price is holding below the MA 50 indicating a continuation of a downward trend, our bearish bias is further supported by the price holding below the overall descending trendline resistance. Otherwise, failure to reach at 2nd Support will see price bounce towards 1st resistance at 0.73814 in line with 38.2 Fibonacci retracement .