R3: 1.0306
R2: 1.0254
R1: 1.0174
PP: 1.0122
S1: 1.0042
S2: 0.9990
S3: 0.9910
AUD/USD's turbulent fall from 1.0325 has extended further to as low as 0.9861 last two weeks, and it closed at 0.9899 yesterday, the price has still placed below 50% 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 1.02 with targets towards the strong support around 0.99. Meanwhile; the bears were forced to pullback at the level of this area, therefore this level will be formed a strong support at 0.992 in order to indicate a bullish opportunity above the support , so it will a good sign to buy above 0.992 with a target at 1.0080 and it might resume to 1.0150.
According to previous events, the price has still been trapped between 1.0207 of Fibonacci retracement levels and 0.9919.
Buy above 0.992 with targets towards 1.008. Sell below 1.020 (H4 chart), it will call for downtrend in order to continue bearish towards 1.008 then 0.9919.