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