R3: 1.0069
R2: 1.0028
R1: 0.9964
PP: 0.9923
S1: 0.9859
S2: 0.9818
S3: 0.9754
AUD/USD's turbulent fall from 1.0325 has extended further to as low as 0.9861 last week, and it closed at 0.9899 yesterday, the price has still placed below 38.2% of Fibonacci retracement levels a week ago. Aswell it should be noted that the price had formed a strong resistance at 1.0080. Futhermore, this strong level has still been trapped between 50% of Fibonacci retracement levels and 38.2% on H4 chart. hence it is probably that the market will start showing the signs of bearish market again in order to indicate a bearish opportunity from the level of 1.0080 with targets towards the strong support around 0.9860. Meanwhile; the bears were forced to pullback at the level of this area, therefore this level will be formed a strong support at 0.9785 in order to indicate a bullish opportunity above the support , so it will a good sign to buy above 0.9785 with a target at 0.9900 and it might resume to 1.0080.
According to previous events, the price has still been trapped between 1.0078 of Fibonacci retracement levels and 0.9785.
Buy above 0.9785 with targets towards 1.008. Sell below 1.0080 (H4 chart), it will call for downtrend in order to continue bearish towards 0.9919 then 0.9860.