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MEX_Exchange

AUDUSD approaching major resistance, prepare to sell!

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
MEX_Exchange  
FX:AUDUSD   Australian Dollar / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns AUDUSD aud USD audusdshort audusdlong audusdforecast audusdsignal audusdsell Forex
102
1
trendanalysis harmonicpatterns chartpattern audusd aud usd audusdshort audusdlong audusdforecast audusdsignal audusdsell forex
Sell below 0.7739. Stop loss at 0.7821. Take profit at 0.7580.
Reason for the trading strategy (technically):
Price is approaching major resistance at 0.7739 (Fibonacci retracement, horizontal pullback resistance) and we expect a strong reaction off this level to push price down to at least 0.7580 support (Fibonacci retracement, horizontal breakout support level).
Stochastic (34,3,1) is seeing major resistance below 98% and we expect a strong reaction off this level.
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