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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 right at selling level, remain bearish

AUD/USD rose as expected to our selling area of 0.7525 yesterday which is a major resistance level (Fibonacci retracement, Fibonacci projection, horizontal resistance). We expect a drop to at least 0.7370 (Fibonacci retracement, Fibonacci projection, horizontal swing low support).

Stochastic (34,5,3) is seeing major resistance at the 93% level and is also displaying bearish divergence vs price.

Sell below 0.7525. Stop loss at 0.7582. Take profit at 0.7370.

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