AUD/USD was in a strong and consistent downtrend during the recent months that sellers were successful in obtaining the lowest price of 0.89991. price with reaching to the supportive level which is shown in the picture below ( made of 2 bottom prices) and the important round level of 0.90000 has stopped from more descend( sellers used this level to exit their trades) and with formation of a bottom price in daily time frame has prepared a field for ascending of price. According to the previous week changes, previous week candle was closed as Inverted Hammer candlestick pattern which shows vulnerability of descending trend and potential for formation of a bottom price in this range.
As it is obvious in the picture below, between the top price of 1.08553 and bottom price of 0.89991 there is AB=CD harmonic pattern with ratios of 78.6 and 127.2 that warns the potential of ascending from the D point of this pattern. RSI indicator is in saturation sell area in daily time frame and in divergence mode with the price chart that warns about changing price direction during the next days. In weekly time frame Stoch indicator is in saturation sell area and with the next cycle confirms the bottom price of 0.89991. Generally according to the current situation, until the bottom price of 0.89991is preserved, there is the potential for ascending of price and reformation of descending trend.