FBS turns 16
July 29, 2024
Trade ideas
AUDUSD, Daily
On a Daily timeframe, the AUDUSD faces a crucial resistance zone at 0.6560, aligned with the 38.2 Fibonacci ratio. The price exceeded the upper Bollinger Band and subsequently retraced. The RSI has crossed upwards from the oversold zone, indicating potential buying pressure.
Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.
Author: Timur Yurdagyul
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