AUDUSD is approaching our first support at 0.7542 (horizontal pullback support, short term ascending support line, 61.8% Fibonacci retracement) where a strong bounce might occur above the level pushing price up to our major resistance at 0.7599 (horizontal swing high resistance, 100% Fibonacci extension, 50% Fibonacci retracement). Stochastic (21,5,3) is also approaching support and a bounce off this level might be a good precursor for a potential rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.