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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 approaching resistance, potential reversal!

analytics5d099bf55f7fc.jpg

Price is approaching its resistance where it could potentially reverse back down to its support at 0.6861.

Entry : 0.6902

Why it's good : 38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback resistance

Stop Loss : 0.6929

Why it's good : 50% Fibonacci retracement

Take Profit : 0.6861

Why it's good : 61.8% Fibonacci retracement, horizontal overlap support

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