AUDUSD facing bearish pressure | 27th July 2021

AUDUSD has reversed below the 1st resistance of 0.73828, in line with descending trendline resistance, 50% Fibonacci extension. Prices are likely to fall towards 1st support, in line with 161.8% Fibonacci retracement and 78.6% Fibonacci extension. Prices may rise to 2nd resistance, in line with 161.8% Fibonacci retracement and 100% Fibonacci extension. Moreover, Stochastic is reversing from hidden resistance at 89.93.

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