SHORT AUDUSD approaching resistance, potential drop!

AUDUSD is approaching our first resistance at 0.7145 (38.2% Fibonacci retracement , 61.8% Fibonacci extension , horizontal pullback resistance) where we might see a drop in price to our first support at 0.7092 (horizontal swing low support, 100% Fibonacci extension . 61.8% Fibonacci retracement ).

Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.

Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks