AUD/USD reversing perfectly, time to start selling

The price touched our selling level and reversed perfectly. We remain bearish below our selling area major resistance at 0.7698 (Fibonacci retracement, horizontal swing high resistance) for a further drop 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 is reversing nicely below this level.

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

analytics5a3729a43fc12.png

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