AUDUSD hourly trend

The secondary trend of AUD/USD is bullish on charts and price is expected to break above the trend line in its hourly chart. In hourly chart the price is sustaining below 50 day SMA and taking support of 200 day SMA indicating uptrend of the pair.

Resistance level of 0.7280 and Support level of 0.7155.
If it breaks its resistance level on the upside and sustains above it then we can expect it to show further bullish movement in the pair.

RSI is sustaining in its buying zone indicating the upcoming bullish trend in the pair.

STRATEGY: One can go for buy on lower level strategy for this pair for intra day to mid term positions.

I wouldn’t get carried away with going short yet, because the past two days have just been all about USD buying. Compare the 1hr charts of all the major usd pairs…they all look the same. High risk that once this buying is done, pairs like the aud, jpy and euro may see a sharp reversal. In the aud the last thing I’d want is to go short at 74xx and then have it squeeze up to 77/78 cents.
That unfortunately is also making it hard for me to pull the trigger on almost any trade. Sighs.