AUDUSD has been trading undecided in a narrow range of -/+ 1.27% since last week. Technical point of view we are the opinion that a beakout the 50 DMA would lead the price action to the 0.80xxx handle of the current inner price zone.
For the down side we have some following points to consider about:
- Break down the 2nd zone, then the price will be traded lower to make another important swing lows at D1 TF ( see the blue line on the depicted chart)
- 0.76xxx will be probably the next swing lows
- in cas ethe lower line at the 3rd zone would be broken down, short AUDUSD on the rally.
Take a look at the depicted charts below for your reference, D1 TF to get a wider view, while H1 will serve you for short term trading setup.