AUDUSD approaching support, potential rise!
AUDUSD is approaching our first support at 0.76555 (horizontal swing low support, 61.8% Fibonacci retracement, short term ascending support line). A strong bounce might occur above this level, pushing price up to our major resistance at 0.7726 (horizontal swing high resistance, 61.8%, 76.4% Fibonacci retracement, 100% Fibonacci extension).
RSI (89) is bouncing above our long term ascending support line and we might see a corresponding rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
RSI (89) is bouncing above our long term ascending support line and we might see a corresponding rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results