FX.co ★ AUD/USD approaching profit target, prepare to sell

Price has bounced above our buying area perfectly yesterday and is fast approaching our profit target. We now start to sell below major resistance at 0.8023 (Fibonacci extension, descending resistance, swing high resistance, Fibonacci retracement) for a drop from here towards 0.7928 support (Fibonacci retracement, Fibonacci extension, swing low support).

Stochastic (34,5,3) is seeing major resistance below 95% where we expect a reaction from.

Sell below 0.8023. Stop loss at 0.8060. Take profit at 0.7928.