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

AUDUSD holding above ascending trendline support. With MACD looking to cross above 0, we see a further build up of bullish momentum. A further push up above our 1st support at 0.73587 towards our 1st resistance of 0.73943 could be possible.

Trading Recommendation

Entry: 0.73587

Reason for Entry:

38.2% Fibonacci retracement, ascending trendline resistance

Take Profit: 0.73943

Reason for Take Profit:

78.6% Fibonacci retracement

Stop Loss: 0.73420

Reason for Stop Loss:

Graphical swing low support