AUD/USD profit target reached perfectly, remain bearish for a further drop

The price has dropped perfectly and reached our profit target. We remain bearish looking to sell below 0.7894 resistance (Fibonacci retracement, horizontal overlap resistance) for a further push down to at least 0.7854 support (Fibonacci extension, horizontal swing low support).

RSI (55) sees a descending resistance line holding our bearish momentum really nicely.

Sell below 0.7894. Stop loss is at 0.7921. Take profit is at 0.7854.

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

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