FX.co - AUD/USD moving towards key resistance where we could see a reversal occur!

2019-05-08T02:08:37

Relevance until2019-05-09

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

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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ AUD/USD moving towards key resistance where we could see a reversal occur!