Technical Analysis for AUD
The pair moved to the upside and achieved another breakout to 50% correction residing at 1.0360 levels as shown on the graph. Stability above the referred to level is positive and might extend the upside move towards 1.0415 levels at least. Trading above 1.0300 levels will be considered positive during today’s session, as Linear Regression Indicators support these expectations.
The trading range for today is among key support at 1.0245 and key resistance at 1.0545.
The general trend over short term basis is to the downside with steady daily closing below levels 1.0710 targeting 0.9400.
Support: 1.0355, 1.0300, 1.0275, 1.0245, 1.0225
Resistance: 1.0375, 1.0415, 1.0430, 1.0495, 1.0545
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 1.0355 targeting 1.0415, 1.0495 then 1.0545 and stop-loss with four-hour closing below 1.0300 might be appropriate