FX.co ★ AUD/USD above strong support, time to buy

Price is testing major support at 0.7567 (Fibonacci retracement, horizontal overlap support) and we expect to see a bounce above this level to at least 0.7632 resistance (Fibonacci extension, horizontal swing high resistance).

Stochastic (21,5,3) is seeing strong support above our 5.8% level and we expect price to bounce up as stochastic approaches this level.

Buy above 0.7567. Stop loss at 0.7520. Take profit at 0.7632.