AUDUSD - 50% Fib Rejection.

AUDUSD - 50% Fib Rejection. The recent uptrend structure on AUDUSD had formed a great opportunity to utilise the Fibonacci Retracement tool. After dragging the tool from the swing low to the swing high, we can see that price is now rejecting from the key 50% level which could act as a strong injection of bullish momentum. With this being said, I am entering a long trade with a great R:R of 1:4. If price can reach my TP, it will result in +212 pips.

Trade closed manually: +77 Pips.