AUD/USD is bouncing up nicely from support, remain bullish

The price has started to bounce up nicely from our buying level. We prepare to buy above 0.7577 support (Fibonacci retracement, Fibonacci extension, horizontal swing low support, bullish divergence) for a bounce up to at least 0.7642 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) is seeing a nice bounce above 4% with good upside potential. A recent bullish divergence also signals that a strong bounce is impending.

Buy above 0.7577. Stop loss is at 0.7556. Take profit isat 0.7642.


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