AUDUSD approaching resistance, potential drop!
AUDUSD is approaching our first resistance at 0.7293 (horizontal swing high resistance, 100% fibonacci extension, 23.6% fibonacci retracement, descending channel resistance) where a strong drop might occur pushing price down to our major support at 0.7152 (horizontal pullback support, 100% fibonacci extension, 50% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresonding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching resistance and we might see a corresonding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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