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. Overbought stochastic and south-turning RSI (currently at 42) on daily chart, warn of potential correction, if Fibo barrier […]The post AUDUSD – Recovery Faces Increased Headwinds from Initial Fibo Resistance appeared first on ActionForex.