FX.co ★ AUD/USD profit target reached perfectly, prepare to buy for a bounce

The price has dropped perfectly from our selling area and reached our profit target. We prepare to buy above major support at 0.7794 (Fibonacci extension, horizontal swing low support) for a bounce up to at least 0.7868 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,3,1) is seeing strong support above 2.9% where we expect a corresponding bounce from.

Buy above 0.7794. Stop loss is at 0.7748. Take profit is at 0.7868.