Aussie H4 | Potential bullish bounce off overlap support

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Aussie H4 | Potential bullish bounce off overlap support

Australian Dollar/U.S. Dollar FX:AUDUSD

FXCM

The Aussie (AUD/USD) is falling towards an overlap support and could potentially bounce off this level to climb higher.

Buy entry is at 0.6731 which is an overlap support that aligns with the 23.6% Fibonacci retracement level.

Stop loss is at 0.6690 which is a level that lies underneath a pullback support and the 50.0% Fibonacci retracement level.

Take profit is at 0.6777 which is a level that aligns with the 161.8% Fibonacci extension level.

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Stratos Markets Limited (www.fxcm.com/uk):

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Stratos Trading Pty. Limited (www.fxcm.com/au):

Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com/au

Stratos Global LLC (www.fxcm.com/markets):

Losses can exceed deposits.

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