AUDUSD is approaching our first support at 0.70442 (horizontal swing low support, 76.4% fibonacci retracement, 100%, 61.8% Fibonacci extension) where a strong bounce to our major resistance at 0.7105 (horizontal swing high resistance, 50% fibonacci retracement) might occur.
Stochastic 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.
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