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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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

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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

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