FX.co ★ AUD/USD prepare to sell on break of key support

The price is hovering above key support at 0.7871 (Fibonacci retracement, horizontal swing low support) and we prepare to sell once price breaks this key level. Our profit target is a push down to next key support level at 0.7741 (Fibonacci retracement, horizontal pullback support).

RSI (55) is seeing bearish momentum within its bearish descending channel.

Sell below 0.7871. Stop loss is at 0.7937. Take profit is at 0.7741.