FX.co ★ AUDUSD testing ascending trendline support. Further bounce incoming!

Price testing and reacting above ascending trendline support. A further push up above 1st support at 0.77259 towards 1st resistance at 0.78038 could be possible. Stochastic is testing support where price reacted in the past as well.

Trading Recommendation

Entry: 0.77259

Reason for Entry:

Ascending trendline support

Take Profit: 0.78038

Reason for Take Profit:

61% Fibonacci retracement

Stop Loss: 0.76993

Reason for Stop Loss:

Graphical swing low