FX.co ★ AUDUSD holding above ascending trendline support! Further rise incoming!

Price holding above ascending trendline support, with technical indicators showing room for further bullish upside. A further push up above 1st support at 0.79158 towards 1st resistance at 0.79592 can be expected.

Trading Recommendation

Entry: 0.79158

Reason for Entry:

50% Fibonacci retracement, ascending trendline resistance

Take Profit: 0.79592

Reason for Take Profit:

-27.20% Fibonacci retracement, 100% Fibonacci extension

Stop Loss: 0.78804

Reason for Stop Loss:

Recent swing low