Resistance: 1.0489 moderate/1.0542 minor/1.0603 minor

Support: 1.0428 strong /1.0374 moderate/1.0313 minor

AUDUSD is generally bullish though prices are just under a moderate resistance at 1.0489. With a mid level bullish candlestick pattern, Bullish Engulfing in Hourly charts, look for possible buys on a close above the said price. Immediate target is 1.0542 possibly 1.0603 on a break of the latter. A stop loss should be placed below the pattern low or alternatively just under 1.0428.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices