AUD/USD fell perfectly to our profit target, before bouncing back to the top, preparing to sell once again




The price has dropped absolutely perfectly to our profit target area before bouncing up and comes close to our major resistance again. We are looking to sell on the pullback to the resistance zone of 0.7868 (Fibonacci retracement, the overlap downtrend resistance price action) to push down for at least 0.7791 of support (Fibonacci extension, the Elliott wave theory).

Stochastic (21,3,1) is to see the major resistance to 98%, where we expect a further decline.

Sell below 0.7868. Stop loss is at 0.7913. Take profit is at 0.7791.



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