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Short

AUDUSD approaching resistance, potential drop!

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD             is approaching our first resistance at 0.7293 (horizontal swing high resistance, 100% Fibonacci extension , 23.6% Fibonacci retracement ) where a strong drop might occur below this level 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 seeing a bearish divergence where we might see a corresponding drop in price.
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yes but possible bullish market now
target 0.7450
+1 Reply
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