AUD/USD: technical analysis (bullish market) for September 19, 2013

Overview:

AUD/USD: According to the previous events, the price has still been trapped between 0.9470 and 0.9520. Therefore, the 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 0.9415 (it should be noted, at the level of 0.9415 is formed double bottom on M15 frame time) with the first target at 0.9515 and the price will climb towards 0.9630. However, if the pair fails to break 0.9650, the market will indicate a bearish opportunity below 0.9650, then the level will really act as strong resistance. It will be a good sign to sell below 0.9650 with the first target at 0.9575 and it will call for a downtrend in order to continue bearish movement towards 0.9500.

Notes:

Resistance: 0.9630 - 0.9780

Support: 0.9415 - 0.9303