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24.02.2021 12:01 PM
AUDUSD holding above ascending trendline support! Further rise incoming!

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Price holding above ascending trendline support, with technical indicators showing room for further bullish upside. A further push up above 1st support at 0.79158 towards 1st resistance at 0.79592 can be expected.

Trading Recommendation

Entry: 0.79158

Reason for Entry:

50% Fibonacci retracement, ascending trendline resistance

Take Profit: 0.79592

Reason for Take Profit:

-27.20% Fibonacci retracement, 100% Fibonacci extension

Stop Loss: 0.78804

Reason for Stop Loss:

Recent swing low

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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