The AUDUSD has set a pivot high on a daily timeframe.
It faces overhead resistance at 0.744 and again at 0.76.
I do not expect a close above the pivot high, yet if it does, I do not expect follow through to the measured move.
Confluence at 0.7-0.68:
- support zone,
- channel,
- measured move on weekly - extension of pivot high/low
It faces overhead resistance at 0.744 and again at 0.76.
I do not expect a close above the pivot high, yet if it does, I do not expect follow through to the measured move.
Confluence at 0.7-0.68:
- support zone,
- channel,
- measured move on weekly - extension of pivot high/low