FX.co ★ AUD/USD approaching profit target, prepare to buy

The price has continued to drop nicely towards our profit target. We prepare to buy above 0.7868 support (Fibonacci extension, horizontal swing low support, Fibonacci retracement) for a push up to at least 0.7974 resistance (Fibonacci retracement, horizontal swing high resistance).

Stochastic (34,5,3) is seeing downside potential before our major support at 2.9% where we expect a bounce from.

Buy above 0.7868. Stop loss is at 0.7793. Take profit is at 0.7974.