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15.07.2021 11:24 AM
AUDUSD holding above ascending trendline support! Bounce incoming!

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AUDUSD holding above ascending trendline support, showing that the trend has changed. RSI is also holding above ascending trendline support and shows room for further bullish momentum. A further push up above our 1st support at 0.74443 towards our 1st resistance at 0.75029 could be possible.

Trading Recommendation

Entry: 0.74443

Reason for Entry:

78.6% Fibonacci retracement, ascending trendline support

Take Profit: 0.75029

Reason for Take Profit:

-27.20% Fibonacci retracement, 78.6% Fibonacci extension

Stop Loss: 0.74266

Reason for Stop Loss:

Graphical swing low support

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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