AUDUSD Long

After a strong downtrend the AUD has broken it's outer trend line. This alongside the 8 EMA crossing above the 21 EMA insinuates a potential short term uptrend. The new uptrend is about to have its 3rd touch of the trend line which shows confluence with the 38.2% Fibonacci retracement. The aim will be to take profit at the 127.2% extension as this sits just below the nearest resistance line.