AUDUSD faces downward pressure as Westpac unveils $2.5 bln right

Using the Fibonacci retracement tool, I was able to plot the zone between the 40% to 50% retracement zone. This zone is also a critical zone. By this, I simply mean that it is a resistance turned support zone. Rather than being dead set on whether this will be a future support or resistance zone, I’ll leave it as a critical zone where further price action near this zone must be observed.