FX.co ★ AUDUSD is facing bullish pressure from our ascending support line

Price is facing bullish pressure from our ascending support line in line with our 38.2% fibonacci retracement where we could see a bounce above this level to our first resistance target.

Trading Recommendation

Entry: 0.72261

Reason for Entry:

ascending support line in line with our 38.2% fibonacci retracement

Take Profit: 0.72686

Reason for Take Profit:

horizontal swing high resistance

Stop Loss: 0.72113

Reason for Stop Loss:

Horizontal pullback support, 61.8% fibonacci retracement, 127.2% fibonacci extension