Audusdllong
AUDUSD approaching resistance, potential drop! AUDUSD is approaching our first resistance at 0.7145 (horizontal swing high resistance, 78.6% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.7111 (38.2% Fibonacci retracement, 100% Fibonacci extension).
Stochastic is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
AUDUSD approaching support, potential bounce!AUDUSD is approaching our first support at 0.7048 (horizontal overlap support, 61.8% Fibonacci retracement) where we might see a bounce to our major resistance at 0.7075 (horizontal pullback resistance, 38.2% Fibonacci retracement).
Stochastic (34,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
