FX.co ★ AUD/USD approaching major resistance, prepare for a drop!

The price is testing major ascending support and only a break of key support level at 0.8036 (Fibonacci retracement, horizontal overlap support, ascending a support, bearish divergence) would trigger a big drop down to 0.7894 support (Fibonacci retracement).

RSI (34) is seeing strong support above 46% and also sees bearish divergence vs price signaling that a reversal is impending.

Sell below 0.8036. Stop loss at 0.8126. Take profit at 0.7894.