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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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AUD/USD starting to drop nicely, remain bearish

We remain bearish below major resistance at 0.7580 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) with price recently breaking a long term support-turned-resistance line. So we expect a strong continued drop from this level to at least 0.7447 support (Fibonacci retracement, swing low support).

Stochastic (21,5,3) remains at 92% resistance and sees bearish divergence vs price signalling a reversal which is approaching.

Sell below 0.7580. Stop loss at 0.7644. Take profit at 0.7447.

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