AUDUSD reversed nicely off its resistance, potential to drop!
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.