AUD/USD Technicals – 1.042 support vs 1.0435 resistance

Hourly Chart


Price rallied towards the 61.8% retracement and fell back towards 1.042. Support appears to be holding despite a false breakout temporarily.

5 Min Chart


Zooming in on the 5 min Chart, this bullish bounce may be short-lived as price appears to have stalled just at the bottom of the 1.0435 – 1.045 consolidation range.

Daily Chart


From the daily chart, a Doji appears to be forming. However Doji in itself is neutral, and does not mean a bearish reversal despite sitting just below the resistance/support line. We could still yet see a bullish breakout, that would make the Doji a continuation signal.


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