AUD/USD hit our targets down to strong trend line support at 7117/12, but stops were activated below 7090 to target 7070/65 and the pair bottomed at 7043. Now oversold with a potentially positive short term candle so a short term recovery is possible today. First resistance at 7081/85 then stronger resistance at 7107/11. Shorts need stops above 7125. A break higher sees 7111/07 work as support to target 7130 then resistance at 7147/50. Look for a high for the day here but shorts need stops above 7170.
First support at yesterday's low of 7045/43 is very minor so be ready to sell a break below to target 7025/20 then more important November lows at 7017/12. There is strong support from here down to 6990 so use this area to exit shorts and try longs with stops below 6975.