AUD/USD: Bearish bounce from the 76.4% Fibo on the 4 hour chart

The Australian Dollar versus the US Dollar continued rising for today, but once it got to the 76.4% Fibonacci retracement of the drop from the 0.7937 to the 0.7532, it stopped there and bounced to the downside. If we take a closer look at the 4 hour chart of the AUD/USD, we can notice that when the price touched for the first time the 61.8% Fibo around the 0.7782 level, it bounced from there to the 50% Fibo on the 0.7734 to rally again from there and go visit the 76.4% Fibo on the 0.7841. At the moment, the price has touched again the 61.8% area, which is acting as support. If we see a breakdown of the 61.8% Fibo, then the price may try to visit the 50% zone again, from where it may stop, due to the fact that the area was a resistance in the past.