AUDUSD

We can see that in zone 1 and zone 3 price found resistance on 0.618 FIB and EMA.
After zone 1 we have zone 2, where price found resistance on 0.236 FIB and EMA.

After that we have zone 3, where once more FIB's 0.618 resistance and EMA's resistance worked as in zone 1.
Finally, and that's where we are right now, we have zone 4. In this zone i expect price to behave as in zone 2!

Nevertheless for this to be valid, next week's candle must close below 0.67400.

This view is invalid if next week's candle closes above S1.


Good Trades!