Long positions remain preferable in the current situation.
A breakout of the local resistance level 0.7410 (27-month highs) will be a signal for renewed AUD / USD growth towards the resistance levels 0.7500 (50% Fibonacci level), 0.7980 (61.8% Fibonacci level and the upper border of the ascending channel on the weekly chart).
In the alternative scenario, and after the breakdown of the support levels 0.7326, 0.7243 (ЕМА200 on the 4-hour chart), the AUD / USD will resume falling towards the support levels 0.7037, 0.7020.
A signal for the implementation of this scenario will be a breakdown of the short-term support level 0.7361 (ЕМА200 on the 15-minute chart).
Support levels: 0.7361, 0.7340, 0.7326, 0.7243, 0.7210, 0.7085, 0.7037, 0.7020
Resistance levels: 0.7410, 0.7500, 0.7850, 0.7980
Also see -> "Fundamental Analysis and Trading Recommendations"
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