ICmarkets

AUDUSD Reversed Off Resistance, Prepare For Further Drop!

Short
FOREXCOM:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD reversed off its resistance at 0.7320 (100% & 61.8% Fibonacci extension, 38.2% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it could drop further to its support at 0.7245 (61.8% Fibonacci retracement).
Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop could occur.

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