AUD/USD
While the AUD/USD pair is trading above its main trend line, we must give statistical preference to the possibility of a new wave of upwards movement expected to push the pair to new highs. That said, a continuation of the market correction may push the pair lower. In such a case, the 0.9775 support level could form a key level to collect the pair on a relatively low price.
On the other hand, it is important to view the main trend line as an anchor level for quick exit from the position in the case of a downwards breach. The stop-loss level of 0.9670 provides a handsome gap that is expected to protect the position from excessive instability. Whether or not the correction continues, the pair is expected to move north, towards the record and resistance levels around 1.0175 United States dollars for one Australian dollar.
