AUDUSD facing bearish pressure | 5 May 2021
Australian Dollar/U.S. Dollar FX:AUDUSD
Prices are facing bearish pressure from 61.8% Fibonacci retracement level. Prices might push down towards horizontal swing low support in line with 61.8% Fibonacci extension as well as 127.2% Fibonacci retracement . If prices push up further, prices might face resistance from horizontal swing high resistance in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension . Ichimoku cloud is also above prices, showing a bearish pressure for prices.