Our bullish outlook for this pair from level 1.0210 has results, if you are a read my analysis you may notice that for a number of months ago we have been suggesting just buy this pair. For example on Tuesday it was noted that the Aussie had left a gap at the beginning of the week, and on Wednesday pair dropped to that level to cover the gap, so we buy at the level of 1.0335. You can see it on the chart.

Well, at the technical level we notice now that the AUD/USD pair is trading below 1.0436 weekly resistance, given that the market is showing low trading volume. A moderate rise to that level of resistance is likely to be observed and then it will reverse to the weekly pivot of 1.0360.

Therefore, we recommend buying at this level with targets at 1.0438 to 1.0532. We will place our stop loss below the 200 day moving average periods (blue).
 

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