AUDUSD, reversing from our pivot. Potential for a drop.

Description:
Price is reversing from our pivot of 0.77341. We could see a medium-probability bearish scenario, from our Pivot towards 1st support at 0.77045. Otherwise, failure to hold under pivot could see price swing higher towards 1st resistance at 0.77562. Do note that price is trending above the ascending trendline, where price may return to.

Pivot: 0.77341
Supporting Points:
100% fibonacci extension, -27% fibonacci retracement and horizontal graphical overlap.

1st Support: 0.77045
Supporting Points:
61.8% fibonacci extension, 23.6%, 78.6% fibonacci retracement and horizontal graphical overlap.

1st Resistance: 0.77562
Supporting Points:
127% fibonacci extension, -61.8%, -61.8% fibonacci retracement and horizontal graphical overlap.
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