FX.co ★ AUD/USD approaching profit target, prepare to buy

The price has dropped perfectly towards our profit target and is fast approaching it. We prepare to buy above major support at 0.7854 (Fibonacci extension, horizontal swing low support) for a push up to at least 0.7897 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) is seeing nice support above 8.5% where we expect a bounce from.

Buy above 0.7854. Stop loss is at 0.7834. Take profit is at 0.7897.