AUDUSD tested resistance, potential further drop!
AUDUSD reversed nicely from its resistance at 0.7662 (61.8% & 50% Fibonacci retracement, horizontal overlap resistance, channel resistance) where price could fall to its support at 0.7529 (76.4% & 61.8% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 0.7586 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support).
Stochastic (89, 5, 3) is reversed nicely off its resistance at 98% where a corresponding drop could occur.
Stochastic (89, 5, 3) is reversed nicely off its resistance at 98% where a corresponding drop could occur.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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