AUD.USD ready for a Bounce? AU at an Important Support

AU had miss on the Jobs Report, which spiked it down.
This after NU got a serious boost from RBNZ rate surprise.
We are now at an important support that Bulls need to hold.

.67822-840 is immediate support and Ideal bounce point.
.67728-758 is next support, would be an acceptable bounce.
.67458-480 is a long way down, better bounce hard if reached.


This is an update to my previous Analysis looking for the Top (click).

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AUD.USD .693 Top Call (recent top mapped)
AUD.USD trend Short (perfect short a year ago)
NZD.USD bounce Call (massive profit, no drawdown)
EUR.USD short call (still in play)
EUR.USD short call (in time, to the Pip)
EUR.USD trend Short (the very tip-top a year ago)
USD.CAD short call (perfect entry, huge profits)
DXY toping call (Upthrust warning just in time)
USD.JPY short to long (recent perfect entries)
XAU.USD top call (exact top pegged)
Silver Bounce call (Perfect entry, still in play)
Copper Bounce call (Prefect entry, almost done)

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Precision is the way of the Fib. Almost every turn happens at a Fib Line.

Comment:

So we lost the immediate support at time of posting.
But we have a wee bit of a bounce off the "Acceptable" bounce zone

Zoomed in, we see a clean ping of the Top of Boundary of the zone

But we can also see that the red fib above (at .67822) will be tough resistance.

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Comment:

AU still following its Fibs perfectly. In particular, notice the exact reflection at the blue arrow

that line was a tight confluence of 3 different fibs, and it shows the power of such confluence.

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Comment:

AU finally cut through the "thin red line" of resistance to fight the fat one above

that thin red line was a tight confluence of several fibs and thus the fight.
Now I am expecting a grind into this fat but diffuse resistance zone.

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Comment:

As expected, the fat resistance zone is pushing its weight

Zoomed in to see the Exact Reaction to the Mid line (a fib of course)

but ALSO note the subsequently higher ping into that zone.
Now to see if the pullback bounces off the "thin red line" below.

Comment:

Just as expected, AU is pulling back form the "Multi-Layered" resistance

Further, bulls should be concerned that the "thin red line" around .6823 was not able to be flipped into Support

Bulls would have ideally held that line, but perhaps all is NOT lost yet.

Throwing a fib on the pullback thus far:

Looks like .68040 will be the KEY support that Bulls must hold.
If it breaks below, then we may revisit the .6782/84 local bottom.

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Comment:

so much for .68040 per the last snap above.
Now eyeing .67950 which will be Bulls Last Stand

the 4.236 should be end of this wave down.
If bulls can not hold .67950, the next support below probably will not hold either ...

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