AUDUSD approaching support, potential bounce!
AUDUSD is approaching our first support at 0.7652 (horizontal swing low support, 61.8% Fibonacci retracement, 76.4% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 0.7745 (61.8% Fibonacci retracement, 61.8% Fibonacci extension, Horizontal pullback resistance).
Stochastic (55,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
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Stochastic (55,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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