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

Price is testing our major resistance at 0.7548 (horizontal swing high resistance, Fibonacci extension) and we expect a strong drop from this level to at least 0.7472 (Fibonacci retracement, horizontal overlap support).

Stochastic (34,5,3) is seeing strong resistance below our 95% level where we expect a further drop from. It is also seeing intermediate resistance below our 63% which should push price down further.

Sell below 0.7548. Stop loss at 0.7573. Take profit at 0.7472.