AUD/USD rose as expected to our selling area of 0.7525 yesterday which is a major resistance level (Fibonacci retracement, Fibonacci projection, horizontal resistance). We expect a drop to at least 0.7370 (Fibonacci retracement, Fibonacci projection, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at the 93% level and is also displaying bearish divergence vs price.
Sell below 0.7525. Stop loss at 0.7582. Take profit at 0.7370.
