Research: Aud/usd - Trading Strategy, Trigger Points, and Support and Resistance Levels

RBS has given the following trading strategy, trigger points, and support and resistance levels:

TRADING STRATEGY: longs here to 1.0612 stopping through 1.0210 (or 1.0310 from a intraday perspective.)

TRIGGER POINTS:

1.0495/69 - Previous support now resistance                                      

1.0240 - 38.2% retracement from the important previous range                                  

1.0612 - 76.4% retracement of the previous range.                            

1.0320/1.0300 - Recent lows and 161.8% projection of the impulse sell off, expect stops through here 

SUPPORT LEVELS: 1.0320, 1.0238, 1.0201

RESISTANCE LEVELS: 1.0496/1.0509, 1.0612/0597

-A breaking of the channel and my (analyst) immediate attention turns to the 1.0509/1.0496 level which is a channel projection from the previous bear channel and is the original low from March of this year. The signs look very positive for the AUD and do not forget from a seasonality point of view the AUD is one of the best performing currencies in the G10 space for the month of April. I still like stops sub the lows at 1.0210 although if that doesn't work from a risk/return point of view then tucking them sub the break out point at 1.0310 works too.