Technical outlook and chart setups:
The AUD/USD pair bounced back from yesterday's lows (0.6930/40 levels) through the 0.7030/40 levels at the moment, and is preparing to break higher. Please note that the pair is testing the back side of the resistance line, which is support now and could possibly extend towards the 0.7550 levels at least. It is hence recommended to remain long for now, with risk at the 0.6850 levels. Immediate support is seen at the 0.6900 levels and lower while resistance is seen at the 0.7040 levels (interim) followed by 0.7150, 0.7280 and higher respectively.
Trading recommendations:
Remain long for now, stop is at 0.6850, target is open.
Good luck!
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