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FX.co ★ AUD/USD remains bearish below major resistance

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Forex Analysis:::2017-01-11T15:15:04

AUD/USD remains bearish below major resistance

Price continues to test major resistance at 0.7380 (Fibonacci retracement, Fibonacci projection, horizontal pullback resistance), and we expect a reaction off this level for a drop to at least 0.7245 (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is also seeing major resistance at the 93% level.

Sell below 0.7380. Set stop loss at 0.7446 and take profit at 0.7245.

AUD/USD remains bearish below major resistance

Analyst InstaForex
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