AUDUSD approaching support, potential bounce!
AUDUSD is approaching our first support at 0.7537 (horizontal overlap support, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 0.7644 (horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (89,5,3) is also seeing a bullish divergence and is approaching our major support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also seeing a bullish divergence and is approaching our major support where we might see a corresponding 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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