- AUD/USD ekes out gains, having hit a session low of 0.7410 in Asia.
- Sign of indecision on the daily chart make Tuesday’s close pivotal.
AUD/USD has recovered to 0.7427 from the session low of 0.7410. The pair, however, is still trapped in Monday’s trading range of 0.7454 to 0.7372.
The Aussie saw two-way business on Monday and ended the day with marginal losses, forming a daily candle with long wicks and small body. That’s a sign of indecision in the market place.
The immediate bias will remain neutral as long as the pair is trading between Monday’s high and low. A break above 0.7454 (Monday’s high) would imply bullish continuation and expose the psychological hurdle of 0.75. Alternatively, a move below Monday’s low of 0.7372 would confirm a short-term bearish reversal and open the doors for a notable pullback.
Daily chart
Trend: Neutral
Technical levels
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