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

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Forex Analysis:::2017-01-23T09:39:25

AUD/USD remain bearish below major resistance

We remain bearish below major resistance at 0.7580 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) and we expect a steep continued drop from this level to at least 0.7447 support (Fibonacci retracement, swing low support).

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

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

AUD/USD remain bearish below major resistance

Analyst InstaForex
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