AUDUSD has bounced back from the monthly support area 0.6800-0.7000 to 0.7350. Can draw a long term trend line support from year 2001 until now. AUDUSD has made a low at 0.5000 in 2001, then followed by a higher low at 0.6000 in 2008. Recently it has made a low at 0.6830 at the beginning of 2016, still a higher low. Bullish divergence can be spotted on monthly chart. Support is 0.6800-0.7000 (The yellow areas) Resistance is 0.8000-0.8350 (The read areas) A long is recommend @0.7300 Stop loss under 0.6800 on a monthly close. Take profit @0.8300
Stay Tuned.
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AUDUSD is approaching 0.7500 level. Keep long position.
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AUDUSD retraced back to 0.7300 level after touching 0.75000 level. More long positions added after retracement @0.7300. Now AUDUSD is boucing back and trying to break 0.75000 resistance level.