AUD/USD bounce taken perfectly, remains bullish, as we approach the goal of profit




We have taken the bounce on AUDUSD and absolutely perfectly and it is fast approaching our profit target. We remain optimistic looking to buy is in a hollow above a major support at 0.7794 (Fibonacci extension, horizontal swing, the lack of support, the bullish divergence) to meet at least 0.7868 resistance (Fibonacci retracement, horizontal overlap of the resistance).

Stochastic (55,3,1) has some good upside to go before we reach major resistance, this coincides with the profit target we expect to see a price.

Buy above 0.7794. Stop loss is at 0.7759. Take profit is at 0.7868.



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