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

2019-07-12T04:41:21

Relevance until2019-07-13

We believe price will rise to its resistance at 0.6994 before reversing back down towards its support.

Entry: 0.6994

Why it's good : 61.8% Fibonacci retracement, 100% Fibonacci extension, horizontal swing high resistance

Stop Loss : 0.7019

Why it's good : 78.6% Fibonacci retracement

Take Profit : 0.6964

Why it's good: 38.2% Fibonacci retracement, horizontal overlap support

AUD/USD approaching resistance, potential reversal!

*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 approaching resistance, potential reversal!