AUDUSD, reversed from our pivot. Potential for a drop.

Description:
Price reversed from our pivot 0.77140, a fibonacci confluence area. We could see a medium-probability bearish scenario, with 1st support at 0.77140 as a potential target . Otherwise, failure to hold below pivot could see price swing higher towards 1st resistance at 0.77315. It's worth noting that price is trending under the moving average and MACD is below the 0 line, in line with our bearish view.

Pivot: 0.77140
Supporting Points:
61.8%, 161.8% Fibonacci extension and horizontal graphical overlap

1st Support: 0.77140
Supporting Points:
78.6% fibonacci retracement and horizontal swing low support

1st Resistance: 0.77315
Supporting Points:
88% fibonacci extension and -27% fibonacci retracement
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