AUDUSD is approaching our first support at 0.7537 (horizontal overlap support, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 0.7644 (horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also seeing a bullish divergence and is approaching our major support where we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.