easyMarkets
Short

AUDUSD approaching resistance, potential drop!

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD is approaching our first resistance at 0.7146 (horizontal swing high resistance, 100% Fibonacci extension , 78.6% Fibonacci retracement ) where we might see a drop to our major support at 0.70968 (61.8% Fibonacci extension , 61.8% Fibonacci retracement ).
Stochastic (34,5,3) is also approaching resistance.
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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