AUD/USD D1 Technical June 04

AUD/USD is in bullish trend. Bollinger bands are providing buy signals for the pair. Aussies is expected to move first down and test 0.9596 level and get a bounce and after that pair will target 0.9840 level.

Price action on 0.9596 level should be carefully watch. If AUD/USD manage to break this level and H4 candle closure below 0.9596 then it will indicate bearish potential and AUD will continue to fall towards southward and target 0.9525 level.

On the other hand. If AUD/USD manage to hold 0.9596 level and get a bounce then it will provide a valid buy entry with stop loss is just located below 0.9520 level.

High impact news can affect the trend of AUD/USD. News like Trade Balance, GDP q/q.


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