AUDUSD approaching support, potential bounce!
AUDUSD is approaching our first support at 0.7230 (horizontal pullback support, 23.6%, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 0.7310 (horizontal overlap resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI (55) is also approaching support where a bounce off this level might see a corresponding rise in price.
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Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias. RSI (55) is also approaching support where a bounce off this level 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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