AUD/USD approaching major resistance, prepare to sell

Price is approaching a major area of resistance at 0.7487 (Fibonacci retracement, Fibonacci projection, horizontal pullback resistance) and we expect a reaction from this level for a drop to 0.7311.

RSI (34) is on pullback resistance where we expect a drop from.

Sell below 0.7487. Stop loss at 0.7590. Take profit at 0.7311.

The material has been provided by InstaForex Company - www.instaforex.com

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