Trading recommendations:
- According to the previous events, the AUD/USD pair is still moving between the levels of 0.7708 and 0.7771.
- The descending movement is likely to take place below 0.7770 with the first targets at 0.7740 and 0.7710.
- On the other hand, stop loss should always be in account for that you have to set your stop loss above the last bullish wave at the level of 0.7790.
Observations:
- Resistance is seen at 0.7770 (sell below this level).
- Support has already placed at 0.7678 (buy above this level for retesting this level because the trend still calls for the bullish market in the short term).
- A double bottom is seen at the level of 0.7680.
- We expect a range of 274 this week.
