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FX.co ★ AUD/USD Testing Its Resistance, Prepare For A Reversal

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Forex Analysis:::2018-05-14T02:43:04

AUD/USD Testing Its Resistance, Prepare For A Reversal

AUD/USD is testing its resistance area at 0.7581 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where we expect to see a drop to its support at 0.7474 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding drop is expected.

Sell below 0.7581. Stop loss 0.7623. Take profit at 0.7474.

AUD/USD Testing Its Resistance, Prepare For A Reversal

Analyst InstaForex
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