Imported headline
AUDUSD – Recovery Faces Increased Headwinds from Initial Fibo Resistance
Source
Action Forex - https://www.actionforex.com/contributors/technical-analysis/646477-audusd-recovery-faces-increased-headwinds-from-initial-fibo-resistance/
Summary
Tuesday's action, shaped in tight Doji candle, suggests that recovery leg from 0.6865 (June 30 low) starts to lose traction, following repeated failure at initial Fibo barrier at 0.6961 (23.6% retracement of 0.7271/0.6965) reinforced by falling 20DMA.
Medium Impact
AUDUSD
AUD
AU