FX.co ★ AUD/USD testing major resistance, time to sell

The AUD/USD pair is testing major resistance at 0.7380 (Fibonacci retracement, Fibonacci projection, horizontal pullback resistance) and we expect the price to drop from this level to at least 0.7245 (Fibonacci retracement, horizontal pullback support).

Stochastic (34,5,3) is also showing major resistance at the 93% level.

Sell below 0.7380. Set stop loss at 0.7446 and take profit at 0.7245.