AUDUSD approaching major support, potential for a bounce!
AUDUSD is approaching major support at 0.7639 (Fibonacci retracement, Fibonacci extension, horizontal swing low support) and a strong bounce could occur at this level pushing prices up to major resistance at 0.7775 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (89,5,3) is seeing major support above 4% where a corresponding bounce could occur.
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 seeing major support above 4% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results