AUDCHF approaching resistance, potential bounce!

AUDCHF is approaching our first resistance at 0.7113 (horizontal overlap resistance, 61.8% fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 0.6954 (horizontal swing low support, 38.2% fiboancci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding bounce in price should it bounce off this level.
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