Technical Analysis for AUD

Technical Analysis for AUD

The pair dropped yesterday but not below level 50 and is still stable above 1.0344 levels. Meanwhile, the pair is trading below key support level of the upside move and the negative Linear Regression Indicators. We prefer to remain neutral today also, as risk/rate ratios is inappropriate now.

The trading range for today is among key support at 1.0275 and key resistance at 1.0500.

The general trend over short term basis is to the downside with daily closing below levels 1.0710 targeting 0.9400.

Support: 1.0330, 1.0300, 1.0275, 1.0260, 1.0220
Resistance: 1.0385, 1.0400, 1.0430, 1.0455, 1.0480

Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move