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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/USD profit target is reached, prepare to buy for a short term correction

The price has dropped perfectly to our profit target and bounced off it. We prepare to buy above 0.7577 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7642 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) is seeing a nice bounce above 4% with good upside potential.

Buy above 0.7577. Stop loss is at 0.7556. Take profit is at 0.7642.

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The material has been provided by InstaForex Company - www.instaforex.com