AUDUSD is approaching support, potential bounce!
AUDUSD is approaching our first support at 0.7542 (horizontal pullback support, short term ascending support line, 61.8% Fibonacci retracement) where a strong bounce might occur above the level pushing price up to our major resistance at 0.7599 (horizontal swing high resistance, 100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (21,5,3) is also approaching support and a bounce off this level might be a good precursor for a potential rise in price.
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Stochastic (21,5,3) is also approaching 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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