FX.co ★ torp.paris | AUD/USD

A noticeable price increase of the AUD/USD pair is observed today on the daily chart. The price is trading near 0.7200. I expect the continuation of the upward movement towards the weekly resistance zone around 0.7250-0.7265. There, I would like to consider opening short positions on this instrument, anticipating a possible pullback downwards. I don't see a reason to enter the market from current levels, so I remain on the sidelines. The FOMC meeting will take place on Wednesday. Hopefully, it can push the markets towards active movements. I am only willing to consider buying the pair in case of a deep correction towards 0.6970, where a strong diagonal support is located.