Aussie H4 | Rising into overlap resistanceThe Aussie (AUD/USD) is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 0.65530 which is an overlap resistance that aligns close to the 38.2% Fibonacci retracement level.
Stop loss is at 0.65870 which is a level that sits above the 50.0% Fibonacci retracement level and a pullback resistance.
Take profit is at 0.65091 which is a pullback support.
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Stratos Markets Limited (www.fxcm.com):
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% 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):
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Losses can exceed deposits.
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