FX.co ★ AUD/USD approaching major support, prepare to buy

Price is now approaching major support at 0.7928 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) and we expect a strong bounce above this level to push price up to at least 0.8049 resistance (Fibonacci retracement, horizontal swing high resistance).

Stochastic (34,5,3) is seeing major support above 4.6% and we expect a strong bounce from this level too.

Buy above 0.7928. Stop loss at 0.7866. Take profit at 0.8049.