AUDUSD approaching resistance, potential drop!
AUDUSD is approaching our first resistance at 0.7238 (horizontal overlap resistance, 38.2%, 50% Fibonacci retracement, 100%, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 0.7010 (61.8% Fibonacci extension).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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