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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 approaching resistance, potential reversal!

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Price reversed off from its resistance where it is expected to fall further to its support. We are expected some AUD weakness later today due to a possible RBA rate cut.

Entry : 75.42

Why it's good : 38.2% Fibonacci retracement, 100% & 61.8% Fibonacci extension, horizontal pullback resistance

Stop Loss : 75.72

Why it's good : 61.8% Fibonacci retracement

Take Profit : 74.98

Why it's good : Horizontal swing low support

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