Watch for a good shorting opportunity. Long term is Bullish
AUDUSD is at a pivotal point today because of the following reasons:
1) It is at %23.6 major Fibonacci level.
2) 2 Major pitchfork parallels acting as strong resistance for the last 3 years.
3) Using cyclic lines pattern the previous key lines were two key pivotal points
4) It is overbought
A close above 0.76559 is required to confirm the bullish move.
The overall longterm bias is bullish.
1) It is at %23.6 major Fibonacci level.
2) 2 Major pitchfork parallels acting as strong resistance for the last 3 years.
3) Using cyclic lines pattern the previous key lines were two key pivotal points
4) It is overbought
A close above 0.76559 is required to confirm the bullish move.
The overall longterm bias is bullish.