AUDUSD back to support level

24 oct. 2017

AUDUSD unexpectedly turned at 0.7880 and is going back to support level near 0.7750. In our previous analysis we have expected that price will go at least to lower boundary of resistance zone at 0.8840 but that did not happen. Price could break support level and go lower. In this scenario we are expecting that price back and test broken support level (this will be resistance level and there will be a good opportunity to sell) and than go lower. Of course current price drop could be only Stop Loss hunting before the price will go upper, so we will be watching carefully price action at support level.