FX.co ★ AUDUSD approaching 1st support, facing bullish pressure!

Price may bullish from 1st support at 0.73159 at 61.8% Fibonacci extension to 1st resistance at 0.73836 in line with 61.8% Fibonacci retracement and 78.6% Fibonacci extension. Otherwise price may bearish to 2nd resistance at 0.72894 in line with 78.6% Fibonacci extension.

Trading Recommendation

Entry: 0.73159

Reason for Entry:

61.8% Fibonacci extension

Take Profit: 109.326

Reason for Take Profit:

61.8% Fibonacci retracement and 78.6% Fibonacci extension

Stop Loss: 0.72894

Reason for Stop Loss:

78.6% Fibonacci extension