FX.co ★ AUDUSD Potential for Bullish Rise to recent swing high

Description :

Looking at the H4 chart, my overall bias for AUDUSD is slightly bullish as there is a key support level, the price tested and bounced from the 1st support level. Looking for a pullback buy entry at 0.68753 where below the 1st support level is. We are looking to take profit at 0.70046, which is the recent swing high, Stop loss will be placed at 0.68355, where the 61.8% Fibonacci retracement is.

Trading Recommendation

Entry: 0.68753

Reason for Entry:Key support level

Take Profit: 0.70046

Reason for Take Profit:

recent swing high

Stop Loss: 0.68355

Reason for Stop Loss:

61.8% Fibonacci retracement