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.

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The material has been provided by InstaForex Company – www.instaforex.com

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