In an alternative scenario, the decline in will stop at current levels. However, to resume buying, you should still wait for the AUD/USD to return to the zone above the resistance level of 0.7774.

A breakdown of the local resistance level of 0.7815 (April highs) will become a confirmation signal for the resumption of long positions with a distant target at 0.8160 (the upper border of the ascending channel on the weekly chart).

Trading Recommendations

Sell ​​Stop 0.7725. Stop-Loss 0.7775. Take-Profit 0.7700, 0.7688, 0.7600, 0.7510, 0.7480, 0.7320
Buy Stop 0.7775. Stop-Loss 0.7725. Take-Profit 0.7815, 0.7850, 0.7980, 0.8000, 0.8160

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