AUDUSD reacted off resistance, watch for further potential drop!
AUDUSD has reacted off its major resistance level at 0.7825 (horizontal overlap resistance, 38.2%, 61.8% Fibonacci retracement ) which coincides with the descending resistance line. A strong reaction could occur at this level, pushing price down to our next major support at 0.7729 (horizontal overlap support, 61.8% Fibonacci extension , 61.8% Fibonacci retracement )
RSI (55) is also reacting off its descending resistance line at 53% and a corresponding drop in price might occur at this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) is also reacting off its descending resistance line at 53% and a corresponding drop in price might occur at this level.
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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