Price has bounced off our buying level absolutely perfectly and is on track to our profit target. We remain bullish with price making a bullish exit of a long-term descending resistance-turned-support line. The goal is to buy above 0.7514 support (Fibonacci retracement, horizontal overlap support) for a further push up to 0.7587 resistance (Fibonacci retracement, horizontal overlap resistance).
RSI (34) has similarly made a bullish exit signalling that a change in momentum is now occurring on AUD/USD.
Buy above 0.7514. Stop loss at 0.7467. Take profit at 0.7587.
