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AUDUSD approaching resistance, potential drop!

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Dollar Australia / Dollar AS (FX:AUDUSD)  
Tickmill Broker  
FX:AUDUSD   Dollar Australia / Dollar AS
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdlong audusdshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern audusd aud usd audusdlong audusdshort forex forextrading forexsignals
AUDUSD is approaching our first resistance at 0.7239 (horizontal overlap resistance, 61.8% Fibonacci extension, 50%, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at (swing low support, 100% Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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