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

2019-07-15T07:38:53

Relevance until2019-07-16

We believe price will rise to its resistance at 0.7046 before reversing back down towards its support.

Entry: 0.7046

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

Stop Loss : 0.7065

Why it's good : 61.8% Fibonacci retracement

Take Profit : 0.7008

Why it's good: 61.8% 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!