AUD/USD remains under pressure

AUD/USD remains under pressure. Initial support is at 1.0395 which if breaks might amplify the bearish pressure that could push AUD/USD down to 1.0372 – 1.0345.

Hourly stochastic and CCI are still mixed, but it is better to prepare alternative strategy in case bullish correction occurs to the resistance area at 1.0434 – 1.0457. Bearish signal that might confirm within the area could trigger a fallback move to 1.0419 – 1.0395.

The intraday bias will turn to bullish only if the resistance at 1.0475 breaks. In that case, AUD/USD will get the chance to move up to 1.0473 – 1.0496.