AUDUSD approaching resistance, potential drop!

AUDUSD is approaching our first resistance at 0.7218 (horizontal overlap resistance, 23.6% Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 0.7136 (horizontal swing low support, 76.4% Fibonacci retracement, 100% Fibonacci extension, Elliot wave structure). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
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