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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 moving towards key resistance where we could see a reversal occur!

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Price is approaching a key resistance at 0.7058 where it could potentially reverse to its support at 0.6998.

Entry : 0.7058

Why it's good : horizontal overlap resistance, 38.2% Fibonacci retracement, 100% Fibonacci extension

Stop Loss : 0.7089

Why it's good : 50% fibonacci retracement

Take Profit : 0.6998

Why it's good : 61.8% Fibonacci retracement, horizontal swing low support

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