AUDUSD Testing Resistance, Potential For Reversal
AUDUSD is testing its resistance at 0.7374 (61.8% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.7283 (61.8% Fibonacci retracement) is expected.
Stochastic (55, 5, 3) has reversed off its resistance at 95% where a corresponding drop is expected. We have also identified a bearish divergence with price that contributes to our bearish bias.
Stochastic (55, 5, 3) has reversed off its resistance at 95% where a corresponding drop is expected. We have also identified a bearish divergence with price that contributes to our bearish bias.
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