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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 reversed off resistance, potential reversal!

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Price reversed off its resistance where we expect to see it drop further to its support at 0.6896.

Entry : 0.6934

Why it's good : 50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap resistance

Stop Loss : 0.6958

Why it's good : 100% Fibonacci extension

Take Profit : 0.6896

Why it's good : 38.2% Fibonacci retracement, horizontal overlap support

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