MEX_Exchange
Long

AUDUSD has broken major resistance, time to buy

FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD             has broken out of our long term descending resistance-turned-support line and looks poised to rise further.

Buy above 0.7838. Stop loss at 0.7805. Take profit at 0.7894.
Reason for the trading strategy (technically):
Price has made a bullish exit of long term descending resistance-turned-support and we look to buy above major support at 0.7838 ( Fibonacci retracement , Horizontal overlap support, bullish exit) for a push up to at least 0.7894 resistance ( Fibonacci retracement , Fibonacci extension , horizontal overlap resistance).
RSI (55) has made a similar bullish exit signalling that a change in momentum from bearish to bullish is happening.
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Nice, its almost there
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