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AUDUSD Obstacle before bullish movements
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While attempting to surpass the horizontal resistance marked from the June 16 high around 0.6900, AUDUSD has encountered selling pressure. The Australian dollar has formed a Double Top chart pattern, suggesting a bearish reversal. Additionally, the 20-period Exponential Moving Average (EMA) at 0.6758 is acting as a significant obstacle for bullish movements.
The Relative Strength Index (RSI) (14) has fallen below 40.00, indicating that downward momentum has been triggered.
My goal is 0.67560
AUDUSD has encountered selling pressure. The Australian dollar has formed a Double Top chart pattern, suggesting a bearish reversal. Additionally, the 20-period Exponential Moving Average (EMA) at 0.6758 is acting as a significant obstacle for bullish movements.The Relative Strength Index (RSI) (14) has fallen below 40.00, indicating that downward momentum has been triggered.
My goal is 0.67560
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