AUDUSD is on a rising uptrend and it's about try the 1.0500 broken resistance as a support. I'd buy it aiming for 1.0575 as a primary target and 1.0700 for an expansion.
Stops would lie under 1.0490 what grants us a good risk/reward relation.
I took a look over the daily chart of audusd, it still looks bearish from my point of view. A correction on EURUSD, might drag one on aussie also. What do you think?
rodrigosmarts
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Yes, in deed. That's why I'm looking for a modest target. It'd be better buying before an actual breakout on the top.
Razvan
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I think a correction might be needed before the breakout. It had a nice rally, without any visible retracement on the daily chart, that might have exhausted the market.