AUDUSD approaching resistance, potential drop!

AUDUSD is approaching our first resistance at 0.7712 (horizontal overlap resistance, breakout level) and a strong reaction might occur, pushing price down to our major support at 0.7503 (horizontal swing low support, 78.6% Fibonacci retracement, 100% Fibonacci extension). We need to watch for a break out of our intermediate support level at 0.7652 (horizontal overlap support, 76.4% Fibonacci retracement, 100% Fibonacci extension) which might provide the bearish acceleration to our major support.

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