MEX_Exchange
Short

AUDUSD approaching major resistance, prepare for a drop!

FX:AUDUSD   Australian Dollar / U.S. Dollar
Sell below 0.8036. Stop loss at 0.8126. Take profit at 0.7894.
Reason for the trading strategy (technically):
Price is testing major ascending support and only a break of key support level at 0.8036 ( Fibonacci retracement , horizontal overlap support, ascending support, bearish divergence) would trigger a big drop down to 0.7894 support ( Fibonacci retracement ).
RSI (34) is seeing strong support above 46% and also sees bearish divergence vs price signalling that a reversal is impending.
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is it retesting of fake breaking out? The market seems not wanting to stop going up...
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