AUDUSD approaching support, potential bounce!

١ فبراير ٢٠١٩

AUDUSD is approaching our first support at 0.7243 (100% Fibonacci extension , 23.6% Fibonacci retracement , horizontal swing low support ) where a strong drop might occur below this level pushing price up to our major resistance at 0.7260 (horizontal pullback resistance, 38.2% Fibonacci retracement ).
Stochastic (89,5,3) is also 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.