In all the microquasars with two hHz QPOs, the ratio of the frequencies is 3:2, supporting our suggestion that a non‐linear resonance between two modes of oscillation in the accretion disk plays a role in exciting the observed modulations of the X‐ray flux. We discuss the evidence in favor of this interpretation, and we relate the black hole spin to the frequencies expected for various types of resonances that may occur in nearly Keplerian disks in strong gravity. For those microquasars where the mass of the central X‐ray source is known, the black hole spin can be deduced from a comparison of the observed and expected frequencies. © 2004 American Institute of Physics