AUD/USD dropped perfectly from our selling area, remain bearish
December 9, 2016 9:55 am
Price has once again dropped perfectly below our major resistance at 0.7500 (Fibonacci projection, horizontal resistance, Fibonacci retracement) and we expect a drop to at least 0.7370 (Fibonacci retracement, Fibonacci projection, horizontal swing low support).
Stochastic (21,5,3) is seeing major resistance at the 87% level and also displays bearish divergence vs price.
Sell below 0.7500. Stop loss at 0.7557. Take profit at 0.7370.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
Price has once again dropped perfectly below our major resistance at 0.7500 (Fibonacci projection, horizontal resistance, Fibonacci retracement) and we expect a drop to at least 0.7370 (Fibonacci retracement, Fibonacci projection, horizontal swing low support).
Stochastic (21,5,3) is seeing major resistance at the 87% level and also displays bearish divergence vs price.
Sell below 0.7500. Stop loss at 0.7557. Take profit at 0.7370.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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