AUDUSD testing strong resistance, prepare for a potential drop!
AUDUSD is testing major resistance at 0.7934 (Fibonacci retracement, horizontal overlap resistance) and a strong reaction could occur at this level to push price down to 0.7890 support (Fibonacci extension, horizontal overlap support).
Stochastic (21,5,3) is seeing major resistance at 93% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21,5,3) is seeing major resistance at 93% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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