AUDUSD bouncing off support, potential rise!
AUDUSD is bouncing off our first support at 0.76560 (horizontal swing low support, 61.8% Fibonacci retracement) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 0.7727 (horizontal swing high resistance, 100% Fibonacci extension, 61.8%, 76.4% Fibonacci retracement).
RSI (89) is bouncing above our long term ascending support line, a good precursor of a potential 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, a good precursor of a potential rise in price.
Losses can exceed the initial investment so please ensure you fully understand the risks Trading CFDs on margin carries high risk.
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