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AUDUSD dropped perfectly to our support, prepare for a bounce!

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Dollar Australia / Dollar AS (FX:AUDUSD)  
Tickmill Broker  
FX:AUDUSD   Dollar Australia / Dollar AS
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdshort audusdlong audusdforecast audusdsignal audusdsell forexsignals
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trendanalysis harmonicpatterns chartpattern audusd aud usd audusdshort audusdlong audusdforecast audusdsignal audusdsell forexsignals
AUDUSD has dropped absolutely perfectly to our major support level before bouncing nicely. We now look for a potential bounce above major support at 0.7899 (Fibonacci retracement, horizontal overlap support, channel exit potential) for a bounce up to potentially 0.7986 resistance (Fibonacci retracement, horizontal pullback resistance).

Stochastic (34,5,3) is seeing major support above 7.9% where a potential corresponding bounce could occur.

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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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