FX.co ★ AUD/USD bounced above our buying level, remain bullish

Price has bounced off really nicely above our major support at 0.7307 (Fibonacci retracement, horizontal overlap support, Fibonacci projection) and we expect a further rise above this level towards 0.7442 (Fibonacci retracement, horizontal pullback resistance).

RSI (34) is bouncing above 35% where a previous major bounce occurred.

Stochastic (21,5,3) is seeing major support above 4.5% where we expect a significant bounce.

Buy above 0.7307. Stop loss at 0.7200. Take profit at 0.7442.