Overview:

• The AUD/USD pair had fallen from the level of 0.7380 and the decline was extended further to as low as 0.7290 yesterday. Furthermore, the price has been below 100% of Fibonacci retracement levels on the H1 chart. Additionally, the price has formed strong resistance at the 0.7380 level and minor resistance at 0.7335. Moreover, this strong level has still been moving between 61.8% of Fibonacci retracement levels and the double top. As it is known, history usually repeats itself at a certain level. So it will be sensible to use historic quotes to determine future prices. Hence, the market will probably show bearish signs again in order to indicate a bearish opportunity at the level of 0.7330 with targets towards the strongest support around the 0.7260 level. Equally important, the market will form a range between two important levels of 0.7330 and 0.7240, so the range will be 90 pips precisely. Also, the double bottom will be set at the level of 0.7221.

Intraday technical levels:

Date:16/10/2015

Pair:AUD/USD

• R3: 0,7468
• R2: 0,7416
• R1: 0,7370
• PP: 0,7318
• S1: 0,7272
• S2: 0,7220
• S3: 0,7174