AUDUSD's potential short-term support

Russell Shor, CFTe, MFTA FXCM

Key support is potentially at the confluence of factors including the S1 pivot level, the 76.4% Fibonacci retracement levels and price congestion support (green rectangle). The stochastic is also at buyer friendly levels (green ellipse). A pullback in AUDUSD may provide a “buy the dip in an uptrend” opportunity.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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