AUD/USD approaching major support, prepare to buy

Price is approaching major support at 0.7966 (Fibonacci extension, Fibonacci retracement, horizontal swing low support) and we expect to see a strong bounce from this level to push price up to at least 0.8051 resistance (Fibonacci retracement, horizontal swing high resistance).

Stochastic (34,3,1) is seeing strong support above 8% where we expect a further bounce from.

Buy above 0.7966. Stop loss at 0.7935. Take profit at 0.8051.


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