AUD/USD Approaching Support, Prepare For A Bounce!

AUD/USD is approaching its support at 0.7560 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where we expect to see a bounce, causing the price to rise to its resistance at 0.7659 (61.8% & 50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (89, 5, 3) is approaching its support at 9.6% where a corresponding bounce is expected.

Buy above 0.7560. Stop loss 0.7513. Take profit at 0.7659.

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The material has been provided by InstaForex Company – www.instaforex.com

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