Technical Analysis for AUD

Technical Analysis for AUD

1.0355 prevented the AUD/USD pair's bearish attempts, encouraging us to bet on it to expect an uptrend in today's session. Note that an extension to the uptrend requires a breach to 1.0415; it will restore the pair's position above Linear Regression Indicators. Trading above 1.0300, in general, is viewed as positive.

The trading range expected today is between the key support at 1.0300 and the key resistance at 1.0495

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

Support: 1.0355, 1.0300, 1.0275, 1.0245, 1.0225
Resistance: 1.0400, 1.0415, 1.0430, 1.0495, 1.0545

Recommendation Based on the above graph and explanation, we recommend buying the pair above 1.0355 targeting 1.0415, 1.0430 and 1.0495 and stop-loss at four-hour closing below 1.0300.