AUD/USD is currently trading around 0.7781, has found short term support around 0.7770 and created intraday high around 0.7808 [H1 200SMA] in the Asian session. 100 DMA act as a resistance for the last three days, preventing the pair closing above the 0.7795 level. A decisive break above today’s high [0.7808] will lead price to the intermediate resistance around 0.7835. For a bullish trend reversal AUD/USD has to close above 0.7900 on a daily basis.
Support: 0.7770, 0.7745 & 0.7730 [Oct.6 low]
Resistance: 0.7808, 0.7835 & 0.7900
Trading Scenario:
FXSAP don’t have any recommendation at this moment.
Other Trading Recommendations [Source: RoboForex]
1.
Timeframe: Intraday
Buy Stop: 0.7815 with SL below: 0.7765 & TP at: 0.7873, 0.7900.
2. Alternative scenario
Timeframe: Intraday
Sell Limit: 0.7807 with SL above: 0.7840 & TP at: 0.7731, 0.7710, and 0.7700.