Daily Video Analysis: AUDUSD shows potential for bullish bounce!

Today we take a look at AUDUSD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is reacting below descending trendline resistance, where we could potentially see a bounce at buy entry level, which is in line with horizontal pullback support, and a further rise up to take profit level, which is in line with 61.8% Fibonacci retracement and descending trendline resistance. RSI has also just bounced from the lower support level where it has reacted from before.

The material has been provided by InstaForex Company - www.instaforex.com