FX.co ★ AUD/USD remain bearish

We remain bearish below major resistance at 0.7580 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance) with price recently breaking a long term support-turned-resistance line leading us to expect a strong continued drop from this level to at least 0.7447 support (Fibonacci retracement, swing low support).

Stochastic (21,5,3) drops from 92% resistance and has good downside potential until its next support at 1.4%.

Sell below 0.7580. Stop loss at 0.7644. Take profit at 0.7447.