AUDUSD reversed nicely off its resistance, potential to drop!
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AUDUSD reversed off its resistance at 0.7785 (horizontal swing high resistance) where it could potentially drop all the way to its support at 0.7726 (61.8% Fibonacci extension , 50% Fibonacci retracement , 100% Fibonacci extension ). We have also identified another resistance at 0.7809 (61.8% Fibonacci extension , 61.8% Fibonacci retracement , horizontal swing high resistance).
Stochastic (55, 5, 3) still has a lot of downside potential where a corresponding drop could occur.
Stochastic (55, 5, 3) still has a lot of downside potential where a corresponding drop could occur.
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