AUDUSD has reached our target, prepare for a potential bounce!

20 בפבר׳ 2018

AUDUSD has dropped perfectly as forecasted towards our major support. Now we’re seeing major support at 0.7891 (Fibonacci retracement, horizontal overlap support, bullish divergence) and a strong bounce could occur at this level to push price up towards 0.7934 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (21,5,3) is seeing major support above 6.4% and can also see bullish divergence vs price, which is a potential precursor to a bounce.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.