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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 Major Support, Potential Further Drop!

analytics5d01b60848641.jpg

Price broke past its major support where we expect to see a further drop to its next support.

Entry : 0.6939

Why it's good : 23.6% Fibonacci retracement, horizontal pullback resistance

Stop Loss : 0.6963

Why it's good : horizontal pullback resistance

Take Profit : 0.6901

Why it's good : Horizontal overlap support, 78.6% Fibonacci retracement, 61.8% Fibonacci extension

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