Bearish outlook on AUDUSD: 24th November 2022

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On the H4 timeframe, prices are facing bearish pressure from its resistance area at 0.67500, in line with the 78.6% Fibonacci retracement. The pullback to this zone presented an opportunity to play further drop to the next support target at 0.65000, in line with the 141.4% Fibonacci retracement. Stochastic is in the overbought region, supporting our bearish bias.