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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 testing support, potential breakout!

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Price is testing its 1st support where we have a slight bias that it still has more downside potential. If it breaks past its 1st support, we expect a further move down to its 2nd support.

Entry : 0.6900

Why it's good : 50% Fibonacci retracement, 100% Fibonacci extension, horizontal swing low support

Stop Loss : 0.6932

Why it's good : horizontal swing high resistance

Take Profit : 0.6871

Why it's good : Horizontal swing low support, 100% Fibonacci extension

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