I.Spivak, Currency Strategist at DailyFX, says “prices are staging shallow recovery followeing a test support at 1.0136… Initial falling channel resistance is at 1.0279, a barrier reinforced by the 23.6% Fib at 1.0322. A push above that exposes major trend line resistance at 1.0537. Alternatively, a reversal through support aims for the 50% expansión at 0.9986”.
AUD/USD is advancing 0.38% at 1.0273 as of writing, with the next resistance at 1.0292 (hourly lows Oct.2) followed by 1.0325 (low. Oct.1) then 1.0342 (MA200d) and 1.0366 (MA21d).
On the other hand, a breach of 1.0210 (hourly high/lows Oct.10) would expose 1.0175 (low Oct.9) then 1.0149 (low Oct.8) and 1.0123 (low Jul.13).