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AUDUSD approaching support, potential rise!

Long
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
Tickmill Broker  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns audusud aud USD audusdlong audusdshort Forex forextrading Bitcoin (Cryptocurrency)
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trendanalysis harmonicpatterns chartpattern audusud aud usd audusdlong audusdshort forex forextrading bitcoin
AUDUSD is approaching our first support at 0.76555 (horizontal swing low support, 61.8% Fibonacci retracement, short term ascending support line). A strong bounce might occur above this level, pushing price up to our major resistance at 0.7726 (horizontal swing high resistance, 61.8%, 76.4% Fibonacci retracement, 100% Fibonacci extension).

RSI (89) is bouncing above our long term ascending support line and we might see a corresponding rise in price.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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