Trade of the day: AUDUSD

The pair has been on a steady upward climb for several days now. There is possibility of price getting to an over-bought level soon but at the moment the RSI still shows some potential for further bullish movement.

The market opened today’s session with a bounce off the 50 MA on the hourly chart. Price is also above the days pivot which is at 0.7355.

With the current conditions, a buy trade is recommended with take profit targets placed around 0.7410 and potentially further up at 0.7430.

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