The AUDUSD continued its bearish momentum yesterday, printed a new resistance at the 0.9574 levels and new support at the 0.9471 levels. On the downside. stability below the 0.9574 levels on a daily basis will keep the pair under pressure, losing 0.9471 would open the 0.9387 levels ahead of the 0.9280 levels, below 0.9280 will target 0.9115 ahead of 0.8971 levels!
On the upside. resistance comes at the 0.9574, break of this level on a daily basis would target the 0.9757 levels, a halt is suggested around this level, but break of 0.9757 would open 0.9960, further out will aim the 1.0220 levels.
Overall, as long as 0.9574 holds on a daily basis the pair will remain under pressure with risk towards the 0.9387 ahead of 0.9280, break of 0.9574 will reverse risks to the upside towards the 0.9757 levels.
Support and resistance : 0.8847 , 0.8971 , 0.9115, 0.9280, 0.9387 , 0.9471 , 0.9574 , 0.9757 , 0.9660 , 10.220 , 1.0310
Recommendations : Sell after rejection below 0.9574 levels or 0.9471 levels – OR Buy after rejection above 0.9574 levels.