AUDUSD long view

Looking at the chart on the four-hour time frame, we see that the pair is finding support at 0.76000; we are currently consolidating just above that level. From the top, we can draw one trend line: our resistance to the bullish trend. We need to pay attention to the Fibonacci level, and we see that the previous pullback was up to 61.8% Fibonacci level, and then the descent down to 0.75290. After that, we have this pullback which now seeks support at 23.6% Fibonacci level. We are waiting for a break above 38.2% at 0.76500 and resistance lines to climb to 61.8% level at 0.77280. Following the moving averages, our target is the zone above EMA200 to MA200, the middle of the area between 50.0-61.8% Fibonacci levels.