AUDUSD remain bearish looking to sell on strength
Sell below 0.7605. Stop loss at 0.7650. Take profit at 0.7517.
Reason for the trading strategy (technically):
We remain bearish for a further drop, looking to sell on strength below 0.7605 resistance (Fibonacci retracement, horizontal pullback resistance) for a further drop to 0.7517 support (Fibonacci retracement, horizontal overlap support).
RSI (34) sees multiple descending resistance lines holding price down.
Reason for the trading strategy (technically):
We remain bearish for a further drop, looking to sell on strength below 0.7605 resistance (Fibonacci retracement, horizontal pullback resistance) for a further drop to 0.7517 support (Fibonacci retracement, horizontal overlap support).
RSI (34) sees multiple descending resistance lines holding price down.
