Bearish outlook on AUDUSD: 9 September 2022
On the H4 timeframe, prices are facing bearish pressure from its resistance area at 0.685, in line with the 100% Fibonacci extension and 50% Fibonacci retracement. A pullback to this zone presents an opportunity to play further drop to the next support target at 0.676, in line with the 61.8% Fibonacci retracement and extension. Ichimoku Cloud is also showing bearish signs, supporting our bearish bias.