We avoided the false bearish breakout perfectly as we continue to play the rise towards our profit target. The plan is to remain bullish above the 0.7668 support (long-term ascending support, Fibonacci retracement) for a further push up to the 0.7780 resistance (major swing high resistance).
The RSI (34) is seeing support above the 45% level. Only a break of this support level would be the precursor to a bearish move being seen. We can see a bullish exit too signalling a further rise on AUDUSD is expected.
Buy above 0.7668. Stop loss at 0.7603. Take profit at 0.7780.
