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AUDUSD approaching support, potential bounce!

Long
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
Tickmill Broker  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdlong audusdshort Forex forextrading forexsignal
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trendanalysis harmonicpatterns chartpattern audusd aud usd audusdlong audusdshort forex forextrading forexsignal
AUDUSD is approaching our first support at 0.7163 (61.8% fibonacci retracement, horizontal overlap support) and a strong bounce might occur above this level pushing price up to our major resistance at 0.7163 (Horizontal pullback resistance, 50% fibonacci retracement, 61.8% fibonacci extension).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
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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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