FX.co ★ AUD/USD technical analysis for 05.07.2013

Daily bars:

A downtrend can be seen on the daily chart. We can also observe a convergence between the price and MACD histogram which signifies a soon correction or trend reversal.

It is worthwhile to look for buy signals.

H4 chart:

The pair resumed it uptrend from the average at 0.914 on the smaller time frame.

The primary target for buyers is the interim resistance at 0.92.

The main target is placed at the upper boundary of the trading envelope at 0.927.

Today buy deals are recommended.