Overview:
AUD/USD's turbulent fall from 0.9440 has extended further to as low as 0.90 since July 12, 2013, and it closed at 0.9120 last week, the price has still placed below 38.2% of Fibonacci retracement levels. As well as, it should be noted that the price had formed a strong resistance at 0.9440. Furthermore, this strong level has still been trapped between 78% of Fibonacci retracement levels and 50% on H4 chart. Thus, 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 0.9440 with a first target 0.9220 then it will be continued towards strong support 0.9030. Meanwhile; the bears were forced to pullback at the level of this area, therefore this level will be formed a strong support at 0.9030 in order to indicate a bullish opportunity above the support, so it will a good sign to buy above 0.9030 with a target at 0.9195 and it might resume to 0.93 next week.
