AUDUSD, is reversing from our pivot point. Potential for a drop.

Description:
Price is reversing from our pivot at 0.76637, a fibonacci confluence area. We could see a medium-probability bearish scenario, with 1st support at 0.76263 as a potential target . Otherwise, failure to hold under pivot could see price swing higher towards 1st resistance at 0.76928. Stochastics is showing bearish momentum where price has previously reversed from the 90% level.

Pivot: 0.76637
Supporting Points:
161.8% fibonacci retracement and 88% fibonacci extension.

1st Support: 0.75575
Supporting Points:
61.8% fibonacci retracement and 88% fibonacci extension.

1st Resistance: 0.76258
Supporting Points:
38.2%, 161.8% Fibonacci retracement, 61.8% fibonacci extension and Horizontal graphical overlap resistance.
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