Resistance: 1.0165 strong / 1.0230 moderate / 1.0324 minor
Support: 1.0070 moderate / 1.0005 minor / 0.9911 minor
AUDUSD has a bearish bias though Hourly charts has formed a bullish reversal pattern Morning Star (Doji). With a strong resistance at 1.0165, the Pivot Point, just ahead of the pattern the preferred course of action is to wait for a push past 1.0165 before buying. Immediate target is 1.0230 then on to 1.0324. Stops should be placed below the patterns low.
For pattern explanation and visual identification rules, click here.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices