AUD/USD: review and forecast
The AUD/USD pair has been moving up for two weeks already, and the dynamics is likely to continue. Since yesterday, the Australian Dollar has strengthened by about 70 points.
Today attention needs to be paid to data on the Initial Jobless Claims, due in the US at 14:30 pm (GMT+2). The indicator is expected to grow from 254,000 to 265,000 that might have a negative impact on the US currency.
Support and resistance
Bollinger Bands on the daily chart is directed up. The price is growing from the middle to the upper MA, and at present there is no indication that the price tends to reverse.
Support levels: 0.7600, 0.7550, 0.7540.
Resistance levels: 0.7650, 0.7690, 0.7720.
Long positions can be opened from the current level with the target at 0.7700 and stop-loss at 0.7600.
Pending sell orders can be placed at the level of 0.7700.