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AUD/USD testing major support, get ready to buy for a correction of rebound — Forex Stock Trade




AUD/USD testing major support, get ready to buy for a correction of rebound




Price has decreased strongly and is now testing major support at 0.7916 (Fibonacci extension Fibonacci retracement). We expect to see a correction bounce from this level to push the price up to at least 0.7986 resistance (Fibonacci retracement, horizontal overlap of the resistance). Stochastic (34,5,3), it is to see a major support to the above of 4.7%, where we expect a rebound too.

Buy above 0.7913. Stop loss at 0.7869. Take profit at 0.7986.



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