AUDUSD approaching support, potential bounce!

2018年7月20日

AUDUSD is approaching our first support at 0.7310 (horizontal swing low support, 100%, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 0.7402 (horizontal pullback resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension). A breakout above our intermediate resistance at 0.7372 (horizontal swing high resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement) might provide us the bullish acceleration to our major resistance target.
Stochastic (89,5,3) is also approaching our support and a bounce off this level might see a potential rise in price.
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