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

AUD/USD is approaching its resistance at 0.7150 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback resistance) where it is expected to reverse down to its support at 0.6997 (38.2% Fibonacci retracement, horizontal swing low support).

Stochastic (89, 5, 3) is approaching its resistance at 99% where a corresponding reversal is expected.

AUD/USD is approaching its resistance where we expect to see a reversal.

Sell below 0.7150. Stop loss 0.7254. Take profit at 0.6997.