Technical Analysis for AUD

Technical Analysis for AUD

The AUD/USD pair continues trading within the major bullish channel, a positive catalyst pushing for further bullishness to ultimately test 1.495, perhaps even beyong that level to 1.0545. A stable position above 1.0415 nurtures positivity, and Stochastic and Linear Regression Indicators are in place of support our outlook.

The trading range expected today is between the key support at 1.0355 and the key resistance at 1.0545.

The short-term trend expected is downside targeting 0.9400 if 1.0710 remains intact.

Support: 1.0430, 1.0415, 1.0385, 1.0355, 1.0300
Resistance: 1.0495, 1.0545, 1.0595, 1.0615, 1.0645

Recommendation Based on the above graph and explanation, we recommend buying the pair above 1.0430 targeting 1.0495 and1.0545 and stop-loss at four-hour closing below 1.0415.