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FX.co ★ AUD/USD rising as expected, remain bullish

AUD/USD rising as expected, remain bullish

We avoided the false bearish breakout perfectly as we continue to play the rise towards our profit target. The plan is to remain bullish above the 0.7668 support (long-term ascending support, Fibonacci retracement) for a further push up to the 0.7780 resistance (major swing high resistance).

The RSI (34) is seeing support above the 45% level. Only a break of this support level would be the precursor to a bearish move being seen. We can see a bullish exit too signalling a further rise on AUDUSD is expected.

Buy above 0.7668. Stop loss at 0.7603. Take profit at 0.7780.

AUD/USD rising as expected, remain bullish

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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