AUDUSD testing strong resistance!
We’re seeing strong resistance at 0.7698 to 0.7741 (50% Fibonacci retracement, 61.8% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal swing high resistance, horizontal overlap resistance) and a strong reaction could occur at this level. Our next major level of resistance is at 0.7796 (breakout resistance, Fibonacci retracement) with our next major level of support at 0.7502 (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 95% where a strong corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (34,3,1) is seeing major resistance below 95% where a strong corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results