Type: Bullish Bounce
Key Levels: Resistance: 0.70842, Pivot: 0.69935 and Support: 0.69616
Preferred Case: AUD/USD at a pivot and graphical swing low, we see the potential for a bounce from our Pivot at 0.69935 in line with 78.6% Fibonacci extension and 100% Fibonacci retracement towards our 1st resistance at 0.70842 in line with 23.6% Fibonacci retracement.
Alternative Scenario: Alternatively, prices may dip further towards our 1st support at 0.69616 in line with 61.8% Fibonacci extension and 100% Fibonacci retracement.
