The AUDUSD maintained a bullish momentum yesterday, broke above the key resistance 0.9374; to resume its upside offensive, the pair will have to hold above the 0.9280 levels on a daily closing basis, sustained break above the 0.9374 levels will pave the way towards the 0.9528/0.9555 levels, further upside will aim the 0.9655 levels.
On the downside, losing the 0.9280 levels on a daily closing basis would reverse risks to the downside towards the 0.9115 levels, a halt is suggested, but a breach will turn the focus on the 0.8971 levels, further downside will aim the 0.8847 levels.
In all, the AUDUSD will remain biased to the upside with risk towards the 0.9528 / 0.9555 levels as long as the 0.9280 levels hold on a daily closing basis…
Support and resistance levels (daily chart) : 0.8847, 0.8971 , 0.9115 , 0.9280 , 0.9374 , 0.9528 , 0.9555 , 0.9656 , 0.9792 , 0.9960, 1.0221 , 10.310
AUDUSD – Daily Chart