AUDUSD approaching support, potential rise!

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD broke out of our long term descending resistance-turned-support line and is approaching our first support at 0.7760 (horizontal swing low support) which coincides with the long term descending resistance-turned-support line. A strong bounce might occur above this level, pushing price up to our major resistance at 0.7812 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ). Ichimoku cloud is also showing signs of bullish pressure, in line with our bullish bias.

Stochastic (34,5,3) is also approaching our short term ascending support line and a bounce off this level might be a good precursor for a potential rise in price.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Come join us today at : https://www.easymarkets.com/
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out