FX.co ★ AUD/USD dropping perfectly as expected, remain bearish

Price has dropped perfectly from our selling area as expected and is approaching fast our profit target. We tighten our stop loss and consider selling further below 0.7431 resistance (Fibonacci retracement, horizontal pullback resistance) for a drop to at least 0.7310 (Fibonacci projection, horizontal swing low support).Stochastic (21,5,3) is seeing strong resistance at the 93% level and is also displaying a bearish divergence vs price.

Sell below 0.7431. Stop loss at 0.7524. Take profit at 0.7310.