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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 facing bearish pressure from descending trend line, potential for further drop

analytics5ee2fc8de39b1.jpg

Trading Recommendation

Entry: 0.68627

Reason for Entry: 23.6% fibonacci retracement, horizontal pullback resistance

Take Profit: 0.66760

Reason for Take Profit: horizontal pullback support, 61.8% fibonacci retracement

Stop Loss: 0.69393

Reason for Take Profit: 50% fibonacci retracement, horizontal pullback resistance, 78.6% fibonacci extension

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