AUD/USD approaching resistance, potential reversal!

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Price approaching its resistance and we expect to see a reversal to its support at 0.6976.

Entry : 0.7012

Why it’s good : 50% Fibonacci retracement, 100% Fibonacci extension, horizontal swing high resistance

Stop Loss : 0.7063

Why it’s good : 61.8% Fibonacci retracement

Take Profit : 0.6976

Why it’s good : 38.2% Fibonacci retracement, horizontal pullback support

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The material has been provided by InstaForex Company – www.instaforex.com

Source:: AUD/USD approaching resistance, potential reversal!

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