AUDUSD approaching major resistance, prepare to sell!

The price is approaching major resistance at 0.7739 (Fibonacci retracement, horizontal pullback resistance) and we expect a strong reaction off this level to push the price down to at least 0.7580 support (Fibonacci retracement, horizontal breakout support level).

Stochastic (34,3,1) is seeing major resistance below 98% and we expect a strong reaction off this level.

Sell below 0.7739. Stop loss is at 0.7821. Take profit is at 0.7580.

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The material has been provided by InstaForex Company - www.instaforex.com