AUD/USD sell below major resistance

The price is approaching major resistance at 0.8059 (Multiple Fibonacci extensions, horizontal swing high resistance, Fibonacci retracement) and we expect a major reaction off that level to push price all the way down to 0.7984 support (Fibonacci retracement, horizontal overlap support).

Stochastic (34,3,1) is seeing major resistance below 94% where we expect a strong reaction from.

Sell below 0.8059. Stop loss is at 0.8083. Take profit is at 0.7984.


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