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

AUDUSD holding above ascending trendline resistance and above moving average as well. A further push up above 1st support at 0.75755 towards graphical swing high and 1st resistance at 0.76167 could be possible.

Trading Recommendation

Entry: 0.75755

Reason for Entry:

38.20% Fibonacci retracement, ascending trendline support

Take Profit: 0.76167

Reason for Take Profit:

Graphical swing high resistance

Stop Loss: 0.75381

Reason for Stop Loss:

61.8% Fibonacci retracement, Graphical swing low support