FX.co - AUD/USD approaching a key support, potential for a bounce!

2019-05-13T02:01:17

Relevance until2019-05-14

Price is approaching a key support at 0.6968 where it could potentially bounce to its resistance at 0.7006.

Entry : 0.6968

Why it's good : horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension

Stop Loss : 0.6934

Why it's good : 100% Fibonacci extension

Take Profit : 0.7006

Why it's good : 76.4% Fibonacci retracement, horizontal swing high resistance

AUD/USD approaching a key support, potential for a bounce!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ AUD/USD approaching a key support, potential for a bounce!