AUDUSD below resistance, remain bearish
Sell below 0.7629. Stop loss at 0.7660. Take profit at 0.7537.
Reason for the trading strategy (technically):
Price continues to hover below our resistance. We look to sell on strength below major resistance at 0.7629 (Fibonacci retracement, horizontal overlap resistance, descending resistance, price gap) for a further push down to at least 0.7537 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 94% where we expect a corresponding drop from.
Reason for the trading strategy (technically):
Price continues to hover below our resistance. We look to sell on strength below major resistance at 0.7629 (Fibonacci retracement, horizontal overlap resistance, descending resistance, price gap) for a further push down to at least 0.7537 support (Fibonacci extension, horizontal swing low support).
Stochastic (34,3,1) is seeing major resistance below 94% where we expect a corresponding drop from.