The price has dropped perfectly and reached our profit target. We prepare to sell below 0.7459 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7333 support (Fibonacci extension, horizontal swing low support).
RSI (34) sees a lot of resistance pushing it down really well.
Correlation analysis: We are expecting commodities weakness with AUD/USD and NZD/USD both expecting drops.
Sell below 0.7459. Stop loss is at 0.7500. Take profit is at 0.7333.
