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

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