Technical analysis signals a possible correction of the AUD/USD currency pair after a significant decline over the past week. A classic reversal formation of the price and MACD histogram divergence (H1 timeframe) has been formed on the trading instrument. At the moment, the AUD/USD quotations are consolidating. The key trading range is 0.72100-0.72400. We recommend you to pay attention to this situation.
If the price fixes above the 0.72400 mark, you need to look for entry points in the market to open long positions. The closest target for fixing profit is the resistance level of 0.72800. The movement is tending to 0.73200-0.73500 (50.0%-61.8% correction zone). When tracking the position, we recommend using a trailing stop.
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.Open Account