AUDUSD approaching support, potential bounce!

AUDUSD is approaching our first support at 0.7084 (horizontal overlap support, 61.8% Fibonacci retracement , 100% Fibonacci extension ) and a strong bounce might occur below this level pushing price up to our major resistance at 0.7147(38.2% Fibonacci retracement , horizontal pullback resistance).

Stochastic (21, 5, 3) is approaching its support where a corresponding bounce could occur.

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