AUDUSD approaching resistance, potential drop!
AUDUSD is approaching our first resistance at 0.7444 (horizontal swing high resistance, 38.2% Fibonacci retracement, 61.8% Fibonacci extension, bullish channel’s resistance) where a strong drop might occur below this level pushing price down to our major support at 0.7301 (100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and seeing a bearish divergence where 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.
Stochastic (89,5,3) is also approaching resistance and seeing a bearish divergence where 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.
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