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

Price holding above ascending trendline support. A further push up above 1st support at 0.77247 towards 1st resistance at 0.77664. Price is holding above moving average support as well.

Trading Recommendation

Entry: 0.77247

Reason for Entry:

23.6% Fibonacci retracement, ascending trendline support, moving average support

Take Profit: 0.77664

Reason for Take Profit:

-27.2% Fibonacci retracement

Stop Loss: 0.77049

Reason for Stop Loss:

50% Fibonacci retracement