AUDUSD broke above descending trendline resistance! Further rise expected!

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Trading Recommendation

Entry: 0.71070

Reason for Entry: Ascending trendline support, Descending trendline support, 23.6% Fibonacci retracement

Take Profit: 0.71619

Reason for Take Profit: -61.8% Fibonacci retracement

Stop Loss: 0.70872

Reason for Stop Loss: 61.8% Fibonacci retracement

The material has been provided by InstaForex Company - www.instaforex.com