FX.co ★ AUDUSD holding above ascending trendline support! Bounce Incoming!

AUDUSD holding above ascending trendline support. With price holding above moving average as support, we see a probability of a further push up above our 1st support at 0.73465 towards graphical swing high resistance and 1st resistance at 0.74057.

Trading Recommendation

Entry: 0.73465

Reason for Entry:

50% Fibonacci retracement, Ascending trendline support

Take Profit: 0.74057

Reason for Take Profit:

-27.2% Fibonacci retracement

Stop Loss: 0.73058

Reason for Stop Loss:

Graphical swing low