AUDNZD approaching support, potential bounce!
Price is approaching our first support at 1.0666 (horizontal overlap support, 61.8% Fibonacci retracement) where price might rise up to our major resistance at 1.0779 (horizontal pullback resistance, 100% Fibonacci extension, 38.2%, 50% Fibonacci retracement). A breakout above our intermediate resistance at 1.0747 (horizontal swing high resistance, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) might provide the bullish acceleration to our major resistance target.
Stochastic (89,5,3) 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.
Stochastic (89,5,3) 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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