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FX.co ★ AUD/USD Made A Bullish Exit From Its Descending Resistance Line, Remain Bullish

AUD/USD Made A Bullish Exit From Its Descending Resistance Line, Remain Bullish

AUD/USD broke out of its descending resistance line where we look to buy on weakness at 0.7746 (38.2% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 0.7845 (76.4% Fibonacci retracement, 100% Fibonacci extension).

RSI (89) shows a corresponding break out where we expect to see a similar drop.

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Buy above 0.7746. Stop loss at 0.7708. Take profit at 0.7845.

AUD/USD Made A Bullish Exit From Its Descending Resistance Line, Remain Bullish

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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