Forex pairs in this Article » AUD/USD
AUD/USD bounced as expected, with a pronounced bullish Piercing Line candlestick pattern on the weekly chart hinting at continued gains ahead. Positive RSI divergence bolsters the case for an upside scenario. I have now entered long in line with my fundamental outlook, initially targeting a multi-month horizontal pivot at 0.9640. A stop-loss will be activated on a close beneath 0.8847.