It should be noted that:
Range: 62 pips.
Volatility: 58.09, therefore, the market indicates a lower volatility.
At the point of 0.9415, strong resistance will be formed. Sellers are asking for a high price.
At the point of 0.9300, strong support will be formed. Buyers are bidding at a lower price.
Overview:
AUD/USD: According to the previous events, the price has still been trapped between 0.9380 and 0.9335. Therefore, the first step is to wait for a period of tight sideways market before breakouts. Then, probably, the market is going to start showing bullish signs. In other words, it will be a good sign to buy above 0.9300 with the first target at 0.9375 and the price will climb towards 0.9410. However, if the pair fails to break 0.9420, the market will indicate a bearish opportunity below 0.9415, then the level will really act as strong resistance, it wil be a good sign to sell below 0.9415 with the first target at 0.9340 and it will call for a downtrend in order to continue bearish movement towards 0.9312.
Intraday technical levels:
R3: 0.9462
R2: 0.9431
R1: 0.9400
PP: 0.9369
S1: 0.9338
S2: 0.9307
S3: 0.9276
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.
