AUD/USD is trading below 61.8% correction at 1.0290 however above Linear Regression Indicators. Stochastic reflects oversold signals and the Relative Strength Index demonstrates an upside reversal. In order to confirm all of these positive signals, trading must go back above 1.0290 but, in contrast, the downtrend will extend if the pair breaks the lower line of the downside bias shown in pink.
- Trading range expected this week is between the key support at 1.0165 and the key resistance 1.0465.
- Short-term trend is downside targeting 0.9400 if 1.0710 remains intact.