AUD/USD broke past a major support where we expect it to drop further to its next!

Price broke past a major support at 0.6934 where we expect it to fall further to its support at 0.6916 .

Entry : 0.6934

Why it’s good : horizontal pullback resistance, 100% & 61.8% Fibonacci extension

Stop Loss : 0.6947

Why it’s good : 61.8% Fibonacci retracement

Take Profit : 0.6916

Why it’s good : 100% Fibonacci extension

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