AUDUSD is approaching our first support at 0.7087 (horizontal overlap support, 50% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 0.7176 (50% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (34) is also approaching support and we might see a corresponding rise in price should it bounce off this level. Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
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