Attention to a potential bounce on the AUD/USD from the 0.9500 level.

The Australian dollar holds on to its profits versus the U.S. Dollar and stays oscillating around the 0.9400 level. We can call this area a consolidation or resting point for the pair on its journey to the 0.9500 level. A first visit to the round number of the 0.9500 level, can give us a good bounce to the downside. Attention to this bounce, because it could represent a 40 to 50 pip move.

Besides the 0.9500, we can also see the 76.4% Fibonacci Retracement, as shown on the chart below, courtesy of the Forex Broker Activtrades http://www.activtrades.co.uk/ , which can also hold the price there on its first visit. We keep repeating the phrase: “first visit”, because it is important that we catch the first bounce, which is the one that statistically has more probabilities of making a bigger move. After the first bounce anything can happen.