AUDNZD approaching resistance, potential drop!

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AUDNZD is approaching our first resistance at 1.0670 (23.6% Fibonacci retracement, horizontal overlap support, 61.8% Fibonacci extension). A strong reaction could occur at this level pushing price down to our major support at 1.0636 (horizontal swing low support, 100% Fibonacci extension).

RSI (21) is also approaching its major descending resistance line and we might see a corresponding drop in price should it react off this level.

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