At 0.688, AUDUSD was rejected from a supply zone and from touching a 200 DMA and 32.8 Fib level. However, it appears it will climb again to form a double top.
Monthly resistance at 0.700 may be reached if it continues to rise. There is a high chance it will bounce back, and it will be an excellent time to sell.
There is also a possibility that the price will break the resistance level. In other words, if we can be certain it is not a fake breakout, the bulls are in control, and we can finally wave goodbye to the downtrend!
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Monthly resistance at 0.700 may be reached if it continues to rise. There is a high chance it will bounce back, and it will be an excellent time to sell.
There is also a possibility that the price will break the resistance level. In other words, if we can be certain it is not a fake breakout, the bulls are in control, and we can finally wave goodbye to the downtrend!
----------------------
Let me know your thoughts in the comments, and show your support by liking the idea.
Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!
