AUDUSD Bullish break-out signal

The AUDUSD pair has been trading within a Channel Up pattern for the whole month of February and since yesterday it is making a bounce on the 4H MA50 (blue trend-line).

Today it broke above the previous High and this is a bullish break-out signal. The previous Bullish Leg that rebounded on the 4H MA200 (orange trend-line) and broke above its previous High, targeted the 1.382 Fibonacci extension.

With the presence of an Inner Higher Highs trend-line, we expect the pair to hit the 1.382 Fib at 0.64250.

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