AUDUSD approaching resistance, potential drop!

AUDUSD is approaching our first resistance at 0.7110 (horizontal pullback resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.70430 (50% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish bias.
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