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.
The material has been provided by InstaForex Company – www.instaforex.com
The post AUD/USD starting to drop nicely, remain bearish appeared first on forex-analytics.press.