AUDUSD: Bullish Breakout Time To Go Long

23 בפבר׳

It seems the price has surged past the resistance zone, coinciding with the 61.8% Fibonacci retracement. With the Stochastic indicator signaling overbought conditions, a retracement towards the now-supportive zone, in conjunction with the 50 moving average, appears likely. A bounce from this level could pave the way for further upside momentum towards the 1st resistance level.