AUD/USD approaching major resistance, prepare to sell

The price is approaching major resistance at 0.7698 (Fibonacci retracement, horizontal swing high resistance) and we expect to see a reaction off this level to push the price down to at least 0.7537 support (Fibonacci retracement, horizontal overlap support). Stop loss is at 0.7751 (Multiple Fibonacci retracements, horizontal pullback resistance).

Stochastic (34,3,1) is seeing major resistance below our 97% and we expect a strong reaction off this level.

Sell below 0.7698. Stop loss is at 0.7751. Take profit is at 0.7537.


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