AUDUSD stays in a trading range

By @ibtimes on

AUDUSD stays in a trading range between 1.0389 and 1.0581. As long as 1.0389 key support holds, the price action in the trading range is treated as consolidation of uptrend from 0.9704, another rise towards 1.1000 is still possible, however a break above 1.0581 is needed to confirm the resumption of uptrend. On the other side, a breakdown below 1.0389 will indicate that the uptrend from 0.9704 had completed at 1.0581 already, then deeper decline could be seen to 1.0100-1.0200 area.

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