AUDUSD approaching support, potential bounce!
AUDUSD is approaching our first support at 0.7163 (61.8% fibonacci retracement, horizontal overlap support) and a strong bounce might occur above this level pushing price up to our major resistance at 0.7163 (Horizontal pullback resistance, 50% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
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 approaching support and we might see a corresponding bounce in price should it react off this level.
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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