Resistance: 1.0523 strong / 1.0571 moderate / 1.0600 minor Support: 1.0494 moderate / 1.0445 minor / 1.0416 minor AUDUSD has a bearish bias though Hourly charts has formed a bullish reversal pattern Piercing Line. With a strong resistance at 1.0523, the Pivot Point, just ahead of the pattern the preferred course of action is to wait for a push past 1.0523 before buying. Immediate target is 1.0571 then on to 1.0600. Stops should be placed below the patterns low.
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AUDUSD Piercing Line Hourly Chart