AUDUSD is going to raise - technical analysis and trade recommendation

AUDUSD exchange rate crossed over downtrend line on December 30th. Then it reached the resistance level at 1.0365 and then bounced down. The downward movement was stopped at 1.0200 support level and now we should expect the upward rebound.

AUDUSD hit support level - daily chart

 At the 4-hour chart the lower shadow candle was formed. This suggest that the further faling potential is depleted. Recommended trade is buying after breaking the short-term downtrend line and closing above 1.0265 resistance. Target level is 1.0335. If the rate remains under 1.0265 we should expect consolidation in 1.0200-1.0265 zone.

AUDUSD downtrend line is going to be break  - H4 chart

Trade recommendation: Buy after closing above 1.0265 Take profit level: Target : 1.0335