AUD/USD right on major support, remain bullish for a bounce

The price has now formed an even stronger bullish reversal signal with our bullish divergence. We remain bullish looking to buy on dips above 0.7628 major support (Fibonacci extension, horizontal swing low support, Long-term Fibonacci retracement, bullish divergence) for a push up to at least 0.7730 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,3,1) is seeing strong support above 2.2% and also sees bullish divergence vs price signaling that a bounce is impending.

Buy above 0.7628. Stop loss is at 0.7556. Take profit is at 0.7730.


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