AUDUSD approaching resistance, potential drop!

١٤ نوفمبر ٢٠١٨

AUDUSD is approaching our first resistance at 0.7238 (horizontal overlap resistance, 100%, 61.8% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.7161 (horizontal overlap support, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,5,3) is also approaching resistance 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.