AUDUSD approaching support, potential rise!

٦ أبريل ٢٠١٨

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.