FX.co ★ AUD/USD Broke Major Support, Potential Further Drop!

Price broke past its major support where we expect to see a further drop to its next support.

Entry : 0.6939

Why it's good : 23.6% Fibonacci retracement, horizontal pullback resistance

Stop Loss : 0.6963

Why it's good : horizontal pullback resistance

Take Profit : 0.6901

Why it's good : Horizontal overlap support, 78.6% Fibonacci retracement, 61.8% Fibonacci extension