AUDUSD testing resistance, potential drop!
AUDUSD is testing our first resistance at 0.7599 (horizontal swing high resistance, 100% Fibonacci extension, 23.6% Fibonacci retracement) where price might potentially react off and drop to our first support at 0.7546 (horizontal pullback support, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastic is also reacting off resistance, a good precursor for a potential drop in price.
Stochastic is also reacting off resistance, a good precursor for a potential drop in price.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.