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.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.