FX.co ★ AUD/NZD testing major resistance, time to start selling

We prepare to sell below the 1.0845 resistance (Fibonacci retracement, horizontal resistance, Fibonacci extension) for a push down to the 1.0771 support (Fibonacci retracement, horizontal overlap support). Our stop loss is the 1.0901 resistance (Fibonacci retracement, horizontal swing high resistance).

Stochastic (55,5,3) is seeing major resistance below the 96% level and we expect a drop from this level soon.

Sell below 1.0845. Stop loss at 1.0901. Take profit at 1.0771.