AUDUSD 4H FRAME
Price has dropped perfectly from our selling area as expected and is approaching fast our profit target. We tighten our stop loss and consider selling further below 0.7431 resistance (Fibonacci retracement, horizontal pullback resistance) for a drop to at least 0.7310 (Fibonacci projection, horizontal swing low support).Stochastic (21,5,3) is seeing strong resistance at the 93% level and is also displaying a bearish divergence vs price.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.