AUDUSD approaching support, potential for bounce

AUDUSD approaching support, potential for bounce for FX:AUDUSD by FXCM

AUDUSD approaching support, potential for bounce



Prices are approaching support level in line with horizontal overlap support, 61.8% Fibonacci retracement , and 127.2% Fibonacci extension . Prices might push up towards horizontal swing high resistance in line with 100% Fibonacci extension . If prices continue to push up, the next target might be horizontal swing high resistance in line with 161.8% Fibonacci extension and -27.2% Fibonacci retracement . If prices push down, prices might take support from horizontal swing low support in line with 61.8% Fibonacci extension and 78.6% Fibonacci retracement . EMA is also below prices, showing bullish pressure for prices.

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