Pay attention to ascending power in AUDUSD

AUD currently is fluctuating between 0.71307 and 0.71450. Thus these two lines formed vital support and resistance. Since USD has been relatively weaker, with the upcoming mid-term election this trend would go further. Therefore the overall strategy is still looking for opportunity to long.

Strategies:
1. If the resistance at 0.71450 is broken through, we shall take a long position to 0.71868. Stop loss at 0.71350.
2. If the support at 0.71307 does not hold, we shall take a short position to 0.71040. Stop loss at 0.71350.