AUDUSD has broken major resistance, time to buy by wattoo

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· @wattoo ·
$0.53
AUDUSD has broken major resistance, time to buy
AUDUSD 0.17% has broken out of our long term descending resistance-turned-support line and looks poised to rise further. 

![Screenshot_219.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1520848423/unyrac5xpt2amv1xpput.png)

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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created2018-03-12 09:54:21
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