AUDUSD: Probably Heading for further decline #forex
After completing a retest towards the potential reversal zone I outlined in my previous analysis, at the main falling trend line and horizontal resistance, the pair headed back lower resuming the overall bearish trend.
The price completed a another bearish double top pattern at that area as shown on chart, and broke below the neckline of the pattern at 0.7195. Given these technical developments, further downside has higher chances.
A potential target is at the minor rising channel shown on chart currently around 0.6975.
0.7295 should remain intact for this scenario to remain favored for me.
The countdown has started.. Check out The Forex Channel all-new coming soon page with a countdown timer to launch date, visit and subscribe at thefxchannel.com
My Best Regards
Technician
The price completed a another bearish double top pattern at that area as shown on chart, and broke below the neckline of the pattern at 0.7195. Given these technical developments, further downside has higher chances.
A potential target is at the minor rising channel shown on chart currently around 0.6975.
0.7295 should remain intact for this scenario to remain favored for me.
The countdown has started.. Check out The Forex Channel all-new coming soon page with a countdown timer to launch date, visit and subscribe at thefxchannel.com
My Best Regards
Technician
