Current trend

The AUD/USD pair has been declining since the end of last month, correcting to the medium-term upward trend: the price consolidated below 0.6713 (Murrey level [6/8]), supported by the middle line of Bollinger bands, which does not exclude the continuation of downward dynamics, and with a breakdown of 0.6652 (Murrey level [5/8]), the quotes are likely to return to the long-term downward channel and will be able to continue the correction with the targets of 0.6591 (Murrey level [4/8]) and 0.6530 (Murrey level [3/8]). However, there is a serious probability that the upper border of the specified channel will act as additional support, and the instrument will resume growth around 0.6835 (Murrey level [8/8]), 0.6897 (Murrey level [ 1/8]) and 0.6958 (level Murrey [ 2/8]).

Technical indicators maintain a buy signal: Bollinger Bands are pointing upward, Stochastic is reversing upwards near the oversold zone, and the MACD histogram is decreasing in the positive zone.

Support and resistance

Resistance levels: 0.6774, 0.6835, 0.6897, 0.6958.

Support levels: 0.6652, 0.6591, 0.6530.

Trading tips

Long positions may be opened above 0.6774 with the targets at 0.6835, 0.6897, 0.6958. and stop loss 0.6730. Implementation time: 5–7 days.

Short positions may be opened below 0.6652 with the targets at 0.6591, 0.6530 and stop loss 0.6695.