FX.co ★ AUD/USD approaching resistance, potential drop!

AUDUSD is approaching our first resistance at 0.7146 (horizontal swing high resistance, 100% Fibonacci extension , 78.6% Fibonacci retracement ) where we might see a drop to our major support at 0.70968 (61.8% Fibonacci extension , 61.8% Fibonacci retracement ). Stochastic (34,5,3) is also approaching resistance. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.