AUDUSD remain bullish with price bouncing above our support
Buy above 0.7656. Stop loss at 0.7609. Take profit at 0.7730.
Reason for the trading strategy (technically):
Price is once again bouncing nicely above our support. Today we remain bullish looking to buy above major support at 0.7656 (Fibonacci extension, Elliott wave structure) for a push up to resistance at 0.7730 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing strong support above 3.6% and is bouncing nicely as expected.
Reason for the trading strategy (technically):
Price is once again bouncing nicely above our support. Today we remain bullish looking to buy above major support at 0.7656 (Fibonacci extension, Elliott wave structure) for a push up to resistance at 0.7730 (Fibonacci retracement, horizontal pullback resistance).
Stochastic (34,3,1) is seeing strong support above 3.6% and is bouncing nicely as expected.