Overview:
AUD/USD:
According to the previous events, the price has still been trapped between 1.0410 and 1.0360. Therefore, first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bullish signs. In other words, it will be a good sign to buy above 1.0300 with a first target of 1.0405 and the price will climb towards 1.0470. However, if the pair could not break 1.0490, hence the market will indicate a bearish opportunity below 1.0490, then the level will really act as strong resistance, it wil bel a good sign to sell below 1.0490 with the first target of 1.0413 and it will call for a downtrend in order to continue bearish movement towards 1.0357 (50% Fibonacci retracement levels).
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.