Technical Forex Trading: AUDUSD

Possible Scenarios: A break above the potential resistance of 0.72700 (23.6% Fibo level) may lead to the psychological level of 0.73000. Alternatively, a break below the potential pivot point of 0.72450 may drive the price to 0.72100 (38.2% Fibo level) potential support.

Comments: Aussie rose sharply on early Asia on Friday but found enough resistance around 0.72700 area, as 0.7300 level seems to be very resistive at present. Although the EMAs seem to support the current price, Stochastic is approaching the overbought zone indicating possible pullback.