AUDUSD Bounced Nicely Off Its Support, Potential bounce!

٣ مايو ٢٠١٨

AUDUSD bounced nicely off its support at 0.7490 (100% Fibonacci extension, 100% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap support) where we expect to see price rising to its resistance at 0.7649 (50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal pullback resistance). We do have to be cautious of the intermediate resistance at 0.7582 (23.6% Fibonacci retracement, horizontal overlap resistance).

Stochastic (89, 5, 3) bounced off its support at 1.94% where a corresponding rise is expected.