AUDUSD Approaching Resistance, Potential Reversal!
AUDUSD is approaching its support at 0.6964 (100% Fibonacci extension, 38.2% & 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.7018 (76.4% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 3.5% where a corresponding bounce could occur.
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Stochastic (89, 5, 3) is approaching its support at 3.5% where a corresponding bounce could occur.
Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Global risk Warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading in CFDs. You should consider whether you understand how CFD
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