AUDUSD Approaching Support, Prepare For A Bounce!
Buy above 0.7359.
Stop loss at 0.7324.
Take profit at 0.7416.\u2028Reason for the trading strategy (technically):\u2028AUDUSD is approaching its support at 0.7359 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where we expect price to bounce to its resistance at 0.7416 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching it support at 5% where a corresponding bounce could occur.
Stop loss at 0.7324.
Take profit at 0.7416.\u2028Reason for the trading strategy (technically):\u2028AUDUSD is approaching its support at 0.7359 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where we expect price to bounce to its resistance at 0.7416 (61.8% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching it support at 5% where a corresponding bounce could occur.