AUDUSD above major support, remain bullishBuy above 0.7659. Stop loss at 0.7604. Take profit at 0.7780.
Reason for the trading strategy (technically):
Price is testing major support at 0.7659 (Fibonacci retracement, horizontal overlap support, pullback support, ascending support) where we expect a further push up to 0.7780 resistance (swing high resistance, Fibonacci projection).
RSI (34) is seeing ascending support holding price up really nicely.
Audusdlongsetup
AUDUSD Weekly View: Bouncing nicely, remain bullishBuy above 0.7600. Stop loss at 0.7510. Take profit at 0.7790.
Reason for the trading strategy:
Price is bouncing nicely above our buying entry from last week. This week we remain bullish above 0.7600 support (Fibonacci retracement, horizontal overlap support) for a push up to 0.7790 resistance (Fibonacci extension, Horizontal resistance).
RSI (34) is seeing support at the 53% level which would hold price up.
AUDUSD above major support, turn bullish for a strong push upBuy above 0.7659. Stop loss at 0.7604. Take profit at 0.7780.
Reason for the trading strategy (technically):
Price is above major support at 0.7659 (Fibonacci retracement, horizontal overlap support, pullback support, ascending support) where we expect a further push up to 0.7780 resistance (swing high resistance, Fibonacci projection).
RSI (34) is seeing ascending support holding price up really nicely.