AUDUSD holding above ascending trendline support, showing that the trend has changed. RSI is also holding above ascending trendline support and shows room for further bullish momentum. A further push up above our 1st support at 0.74443 towards our 1st resistance at 0.75029 could be possible.
Trading Recommendation
Entry: 0.74443
Reason for Entry:
78.6% Fibonacci retracement, ascending trendline support
Take Profit: 0.75029
Reason for Take Profit:
-27.20% Fibonacci retracement, 78.6% Fibonacci extension
Stop Loss: 0.74266
Reason for Stop Loss:
Graphical swing low support
