AUDUSD broke above descending trendline resistance (now support). With technical indicators showing room for further bullish momentum, a further push up above our 1st support at 0.72777 towards 1st resistance at 0.73736 could be possible.
Trading Recommendation
Entry: 0.72777
Reason for Entry:
38.2% Fibonacci retracement ,Graphical overlap support
Take Profit: 0.73736
Reason for Take Profit:
-61.8% Fibonacci retracement , 61.8% Fibonacci retracement
Stop Loss: 0.72267
Reason for Stop Loss:
Graphical swing low support
The material has been provided by InstaForex Company - www.instaforex.comfrom RobotFX
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