FX.co ★ AUD/USD remain bullish above major support

We remain bullish above the long-term support as 0.7655 (Fibonacci retracement, long term ascending support) for a push up to the 0.7780 resistance (long-term resistance). We watch the RSI closely to ensure we are not faked out by a bearish exit.

The RSI (34) is seeing support above the 45% level. Only a break of this support level would be the precursor to a bearish move seen.

Buy above 0.7655. Stop loss at 0.7603. Take profit at 0.7780.