GBPAUD testing major support, keep an eye out!
Price is now testing major support area at 1.7352 (38.2% Fibonacci retracement, 50% Fibonacci retracement, 61.8% Fibonacci retracement), horizontal pullback support) and a strong bounce could occur at this level to push price up to at least 1.7917 (Fibonacci extension, horizontal swing high resistance). Our next major level of support is at 1.7107 (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing nice support above 2.5% 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.
Stochastic (34,5,3) is seeing nice support above 2.5% 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.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results