Will the key level on AUDUSD be broken?

March 20, 2019 8:23:28 AM by Alexander Zorevyk
Forecast Details
PairAUDUSD
Direction Sell
StatusClosed (0.712)
6:01
6:00
Mar. 20, 2019

-40 p
0.7120
Stop Loss
0.7080
Entry
+40 p
0.7040
Target 1
Chart & Analyst Comments
Will the key level on AUDUSD be broken?
  1. Majority of traders are still holding onto longs. This means we should continue selling AUDUSD.
  2. The dynamics of the Ratios indicator signals possible sells. Pay attention to the area marked on the image.
  3. MVP line is above the price and acts as a resistance level.
  4. The activity of "fresh" buyers in a downward movement may indicate that the market crowd still does not believe in a bearish trend.
  5. This movement is focused on the breakdown of the previous support, the target at the level of 0.704.