AUDUSD is approaching our first resistance at 0.7437 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8%, 100% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 0.7383 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic 89,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.