Forex: AUD/USD bullish above 1.0360 trend line support - V.Bednarik
Forex pairs in this Article » AUD/USD
FXstreet.com (San Francisco) - AUDUSD is back trading around the 1.0440 level (vs. 1.0433 late Tuesday) after climbing to 5-day highs (1.0453) after Australian consumer confidence came in higher than last month's reading. As Valeria Bednarik, Chief Analyst at FXstreet.com explains, "Bullish bias will remain intact as long as the daily ascendant trend line around 1.0360 contains slides." Technically speaking, a bearish pin was just printed in the hourly timeframe, an event that often forms at market highs and lows. The analyst identifies immediate support at 1.0390, then, if the market turns bearish, further support is noted at 1.0330. Upside action may encounter offers at 1.0445, 1.0480 and 1.0510.