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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 broke out of its support turned resistance, potential further drop!

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AUDUSD is expected to drop further to its support at 0.6907.

Entry: 0.6937

Why it's good : 23.6% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance

Stop Loss : 0.6957

Why it's good : 50% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback resistance

Take Profit : 0.6907

Why it's good: 100% Fibonacci extension, 61.8% Fibonacci retracement

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