DerekUweri71
Long

AUDUSD AT KEY SUPPORT LEVEL

FX:AUDUSD   Australian Dollar / U.S. Dollar
241 0 4
AUDUSD             has been trading within a channel since about April. On the daily chart , price has reached a key level of support 0.9260 and has formed a pin bar .
There is an inverted head and shoulders pattern on the 4H chart.
Stochastics is showing signs that price is oversold and there appears to be bullish divergence on CCI .
NAB Business confidence will be released at 1.30am GMT             . If it's positive, AUDUSD             could rally to minimum target level of 0.93450. My view will change if news is negative and price breaks below the low of the pin bar and channel support of 0.9240.
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