AUDUSD approaching support, potential bounce!
AUDUSD is approaching our first support at 0.7244 (horizontal swing low support, 76.4% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 0.7312 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastics (89,5,3) is also seeing a bullish divergence and approaching support and a bounce off this level might see a corresponding rise in price.
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Stochastics (89,5,3) is also seeing a bullish divergence and approaching support and 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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