AUDUSD bouncing up nicely, watch for a further rise!

AUDUSD has started to bounce above strong support at 0.7784 (Fibonacci retracement, horizontal overlap support) and a further rise could occur at this level to push price up to 0.7827 resistance (Fibonacci retracement, horizontal overlap resistance) before 0.7889 resistance (Fibonacci retracement, horizontal overlap resistance).

Stochastic (34,5,3) is seeing intermediate ascending support push price up nicely and has good upside potential before 98%.

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