AUDUSD Technical Resistance H1 H4 chart
This is a typical selling control on this pair.
0.768 is the horizontal resistance and also resistance level of downtrend channel
When the price action hit 0.768,
By using DMI, +DI value was at 35.1 (overbought)
By using Stochastic, it's value was 96.0 (overbought)
I use Fibonacci Extension to see my target profit will be 61.8% (0.759), which is the horizontal support
0.768 is the horizontal resistance and also resistance level of downtrend channel
When the price action hit 0.768,
By using DMI, +DI value was at 35.1 (overbought)
By using Stochastic, it's value was 96.0 (overbought)
I use Fibonacci Extension to see my target profit will be 61.8% (0.759), which is the horizontal support