The secondary trend of AUD/USD is bullish on charts. In its 4 hourly chart, the pair is sustaining below the trend line after breakout and is consolidating at higher levels. Price is sustaining above 200 day SMA and 50 day SMA indicating the bullish trend in the pair.
It is having an important resistance at the level of 0.7260 and support at the level of 0.7060. If it breaks its resistance level and sustains above it then we can expect it to show further bullish movement in the pair.
INDICATORS:-
RSI is also sustaining in its buying zone indicating the upcoming bullish trend in the pair.
STRATEGY: AUD/USD is looking bearish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions.
It is having an important resistance at the level of 0.7260 and support at the level of 0.7060. If it breaks its resistance level and sustains above it then we can expect it to show further bullish movement in the pair.
INDICATORS:-
RSI is also sustaining in its buying zone indicating the upcoming bullish trend in the pair.
STRATEGY: AUD/USD is looking bearish on charts for next few trading session. One can go for buy on lower level strategy for this pair for intra day to mid term positions.