R3: 1.0485
R2: 1.0418
R1: 1.0363
PP: 1.0296
S1: 1.0241
S2: 1.0174
S3: 1.0119
AUD/USD's turbulent fall from 1.045 has extended further to as low as 1.0150 last weeks, and it closed at 1.0308 yesterday, the price has still placed below 61.8% of Fibonacci retracement levels three months ago. Aswell it should be noted that the price had formed a strong resistance at 1.045. Futhermore, this strong level has still been trapped between 50% of Fibonacci retracement levels and 61.8% 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 1.045 with targets towards the strong support around 1.0174. Meanwhile; the bears were forced to pullback at the level of this area, therefore this level will be formed a strong support at 1.0150 in order to indicate a bullish opportunity above the support , so it will a good sign to buy above 1.0150 with a target at 1.03 and it might resume to 1.04.
According to previous events, the price has still been trapped between 1.0450 of Fibonacci retracement levels and 1.0150.
Buy above 1.0150 with targets towards 1.0415. Sell below 1.0450, it will call for downtrend in order to continue bearish towards 1.03 then 1.0225.