AUDUSD look to buy on dips for a push up
Buy above 0.7990. Stop loss at 0.7934. Take profit at 0.8083.
Reason for the trading strategy (technically):
We look to buy on dips above major support at 0.7990 (Fibonacci retracement, horizontal overlap support, bullish price action) for a further push up to at least 0.8083 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 4.7% where we expect a bounce from.
Reason for the trading strategy (technically):
We look to buy on dips above major support at 0.7990 (Fibonacci retracement, horizontal overlap support, bullish price action) for a further push up to at least 0.8083 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support above 4.7% where we expect a bounce from.