FX.co ★ AUD/USD dropping perfectly from our selling area, remain bearish

Price dropped absolutely perfectly from our selling area yesterday and is close to our profit target. We remain bearish looking to sell on strength below 0.7436 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to 0.7317.

Stochastic (21,5,3) is below descending resistance and sees good downside potential.

Sell below 0.7436. Stop loss at 0.7504. Take profit at 0.7317.