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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