FX.co ★ AUDUSD Potential for Bullish rise to previous swing high

Description :

Looking at the H4 chart, my overall bias for AUDUSD is bullish due to the current price being above the Ichimoku cloud, Looking for a buy entry at 0.71277 where the pullback entry and the 1st resistance level. We are looking to take profit at 0.72775, where the previous swing high is and -27.2% Fibonacci line. Stop loss will be placed at 0.69753 where the recent swing low support is.

Trading Recommendation

Entry: 0.71277

Reason for Entry: Ichimoku cloud + price momentum

Take Profit: 0.72775

Reason for Take Profit:

Previous swing high resistance

Stop Loss: 0.69753

Reason for Stop Loss:

recent swing low support