AUDUSD approaching resistance, potential drop!
AUDUSD is approaching our first resistance at 0.72192 (horizontal overlap resistance, 61.8%, 100% Fibonacci extension, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 0.7142 (horizontal swing low support). Stochastic (21,5,3) is also approaching resistance and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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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