Reacting off pullback resistance?The Aussie (AUD/USD) has reacted off the pivot which has been identified as a pullback resistance and could fall to the 1st support.
Pivot: 0.6683
1st Support: 0.6638
1st Resistance: 0.6701
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Auduad
AUDUSD | Breakout AUDUSD is in some serious momentum, it has broken all the important resistance and trading above the falling trendline. We are expecting bulls will continue this pace and before moving more further take a step back (correction).
Alternatively, if it falls below the falling trendline the bears will come to the party and ruin the bulls show. Trade your levels accordingly.
Strong correction downside ON weekly Base Towards Support 0.6840AUD/USD has failed to make another higher high and to take out a major dynamic resistance 0.7210 signalling a potential reversal in the short term. Last Friday was broken 0.7180 and new week open gap confirmed AUDUSD under pressure.
The price is struggling in the upper border of the target range of 0.7190-0.7225 Last week, If Price break out 0.7240 which will lead to an increase to 0.7296 (January 2019 high) But currently price under pressure to Coronavirus case spike in Victoria and declares state of disaster. If price break 0.7110 expecting downside correction towards 200ma 0.6840.
870
Today the USDX's rebound has pushed the greenback higher versus its rivals, but it is premature to talk about another leg higher on USD as the US Dollar Index is under massive pressure.
🛑SUPPORT/RESISTANCE
✅S1= 0.7020
✅S2=0.6840
✴️R1=0.7210
✴️R2=0.7290
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basic h4 view bearish engulfing just a basic H4 view let see a bearish engulfing anf not pass is down T-mine since january high can make think he can down to a psychological leval of 0.7700 with amid bad china ppi and cpi and geopolital tension+ an hawkish FED bad on good us CPI report..i not play it because market very confuse with all tension from us and other country..but i let you see he chart and take a decision..for me is wait and see..ad will more play on other currencies or commodity wich have more volatility