We prefer to go long AUD/USD

FX:AUDUSD   Australian Dollar / U.S. Dollar
Positioning Bias:

AUD/USD made a low of 0.8067 and has slightly recovered from that level. Short term trend is bullish as long support 0.8063 holds.

On the upside minor resistance is around 0.8255 and any break above will target 0.8378 (Dec 10th high).

The pair’s minor support is around 0.8060 and break below will take the pair to target 0.7933 ( 61.8% retracement of 0.6005 to 1.10792) /0.7800 in short term.

Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy

Recommendation: Buy AUD/USD 0.8155, SL 0.8063, Target 0.8378.


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