Current trend

On the 4-hour chart, the instrument keeps a moderate positive dynamic. Now the price is approaching a strong resistance in the region of 0.69275-0.69292. Assuming
the pair’s ability to cross this area, the mark of 0.69380-0.69580 can be targeted if holding long positions.

Alternative scenario

Failure to conquer the 0.69275 mark seems fetching the AUD/USD to 0.69190 support. The key level for the sellers will be the 0.69090 mark (middle line of Bollinger bands). Further close below this level may push AUD/USD even lower towards the area of 0.68970-0.68850.

Technical indicators

Technical indicators maintain a buy signal.

Bollinger Bands are pointed upwards.

MACD stabilized in the positive zone.

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

Support and resistance

Support levels: 0.69190, 0.69090, 0.68970, 0.68850.
Resistance levels: 0.69275, 0.69380, 0.69580.

Trading recommendations

Long positions can be opened above the level of 0.69275 with the target at around 0.69380-0.69580 and stop-loss at 0.69173.
Short positions can be opened below the level of 0.69190 with the target at around 0.68970 and stop-loss at 0.69263.

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