FX.co ★ AUD/USD bounced perfectly from our buying area, remain bullish for a further rise

The price has touched our buying area and shot up perfectly. We remain bullish on a further rise above 0.7882 support (Fibonacci retracement, Fibonacci extension, bullish divergence) towards 0.7928 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance). We move our stop loss to 0.7869 to protect our profits.

Stochastic (55,5,3) is seeing bullish divergence vs price signaling that a reversal is impending.

Buy above 0.7882. Stop loss is at 0.7869. Take profit is at 0.7928.