FX.co ★ AUD/USD on major support, remain bullish

We remain bullish above major support at 0.7492 (Fibonacci retracement, horizontal swing low support, bullish divergence) and we expect to see a bounce above this level to 0.7561 resistance (Fibonacci retracement, horizontal overlap resistance).

RSI (34) seeing major support above 34% and also displays bullish divergence vs price signalling that a bounce is impending. We also see a recent bullish exit giving us additional weight to our bullish move.

Buy above 0.7492. Stop loss at 0.7453. Take profit at 0.7561.