AUDUSD nearing support, look out for a potential bounce!
AUDUSD is nearing its major support at 0.7755 (61.8% Fibonacci extension , 61.8% Fibonacci retracement level, horizontal swing low support) where a potential bounce might occur. Prices may move up to its 1st resistance at 0.7888 (61.8% Fibonacci retracement, horizontal overlap resistance) before a further rise to 2nd resistance at 0.7991(61.8% Fibonacci retracement , horizontal overlap resistance, major swing high resistance). We have also identified a 2nd support at 0.7653 (76.4% Fibonacci retracement , Horizontal overlap support)
Stochastic (34, 5, 3) shows that it is nearing its support at 3.6% and a corresponding bounce might occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34, 5, 3) shows that it is nearing its support at 3.6% and a corresponding bounce might occur.
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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